22 :- Average profit earned by a firm is Rs 1,00,000 which includes undervaluation of stock of Rs 40,000 on an average basis. The capital invested in a business is Rs 6,30,000 and the normal rate of return is 5%. Calculate goodwill of the firm on the basis of 5 times the super profit.
23 :- Average profit earned by a firm is Rs 7,50,000 which includes overvaluation of stock of Rs 30,000 on an average basis. The capital invested in the business is Rs 42,00,000 and the normal rate of return is 15%. Calculate the goodwill of the firm on the basis of 3 times the super profit.
24 :- Akshay and Amit are partners in a firm and they admit Jaspal into partnership w.ef. 1st April, 2025. They agreed to value goodwill at 3 years purchase of Super Profit Method for which they decided to average profit of last 5 years. The profits for the last 5 years were :
The firm has total assets of Rs 20,00,000 and outside Liabilties of Rs 5,00,000 as on that date. Normal rate of return in similar business is 10%.
Calculate value of goodwill.
Question 1 to 3 (Average Profit Method)
Question 4 to 7 (Average Profit Method when Past Adjustments are made)
Question 8 to 9 (Weighted Average Profit Method)
Question 10 to 16 (Super Profit Method)
Question 17 to 21 (Calculation of Average Profit, Normal Rate of Return and Capital Employed)
Question 22 to 24 (Super Profit Method when Past Adjustments are Made)
Question 25 to 28 (Capitalisation Method)
Question 29 to 32 (Capitalisation Method)
Question 33 to 38 (Capitalisation of Super profit)