Read and download free pdf of CBSE Class 12 Accountancy Valuation Of Goodwill Worksheet Set A. Students and teachers of Class 12 Accountancy can get free printable Worksheets for Class 12 Accountancy in PDF format prepared as per the latest syllabus and examination pattern in your schools. Standard 12 students should practice questions and answers given here for Accountancy in Grade 12 which will help them to improve your knowledge of all important chapters and its topics. Students should also download free pdf of Class 12 Accountancy Worksheets prepared by school teachers as per the latest NCERT, CBSE, KVS books and syllabus issued this academic year and solve important problems provided here with solutions on daily basis to get more score in school exams and tests
Valuation Of Goodwill Class 12 Accountancy Worksheet Pdf
Class 12 Accountancy students should refer to the following printable worksheet in Pdf for Valuation Of Goodwill in standard 12. This test paper with questions and answers for Grade 12 Accountancy will be very useful for exams and help you to score good marks
Class 12 Accountancy Worksheet for Valuation Of Goodwill
Question : 1. A business has earned average profit of Rs. 4,00,000 during the last few years and the normal rate of return in similar business is 10%. Find out the value of goodwill by
(i) Capitalisation of Super Profit
(ii) Super profit method if the goodwill is valued at 3years’ purchase of super profits.
The assets of the business were Rs. 40,00,000 and its external liabilities Rs. 7,20,000.
Question : 2. Capital of the firm Sharma and Verma is Rs. 4,00,000 and the market rate of interest is 15%. Annual salary to partners is Rs. 2,400 each. The profit for the last three years were Rs. 1,20,000, Rs. 1,44,000 and Rs. 1,68,000. Goodwill is tovalued at 2 years’ purchase of last 3 years average super profit. Calculate the Goowill of the firm.
(Hint Rs. 72,000)
Question : 3. On Ist Jan 2014 an existing firm has Asset of Rs. 1,50,000 including cash of Rs. 10,000. Its creditors amounted to Rs. 10,000 on that date. The firm had a Reserve of Rs. 20,000 while Partner’s Capital Accounts showed a balance of Rs. 1,20,000. If Normal Rate of Return is 20% and goodwill of the firm is valued at Rs. 4,8000 at four years’ purchase of super profit, find the average profit per year of the existing firm.
(Ans Average profit – Rs. 40,000)
Question : 4. Calculate value of goodwill on the basis of three year purchase of average profit of the preceding five years which were as follows:
Years ended 31.3.2014 4,00,000
Years ended 31.3.2013 7,50,000
Years ended 31.3.2012 9,00,000
Years ended 31.3.2011 2,00,000 (loss)
Years ended 31.3.2010 6,50,000
Hint: (Goodwill = 1,5,00,000)
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