# [ISC] Q. 9 Goodwill Solution TS Grewal Class 12 (2024-25)

Solution to Question number 9 of the Goodwill chapter 2 TS Grewal Book ISC Board 2024-25 Edition.

Sonu and Sumit are partners sharing profits and losses in the ratio 3 : 2. They admit Sahil as a partner for 1/5th share. For this purpose, goodwill of the firm is to be valued on the basis of 3 year’s purchase of last 4 year’s average profit. Profits for the last four years ended on 31st March were as follows:

i) On 1st October, 2021, the firm had purchased a computer for ₹ 3,00,000 and it was debited to stationery expenses. Depreciation is to be charged on computer @ 10% p.a. on Diminishing Balance Method.

ii) Closing Stock of 2022 and 2023 were overvalued by ₹ 30,000 and ₹ 20,000 respectively.

iii) To cover the Operating Cost, an annual charge of ₹ 45,000 should be made for the purpose of goodwill valuation.

Calculate goodwill of the firm.

Solution:-

List of all solutions of Goodwill chapter TS Grewal ISC Board class 12 (2024-25)