CBSE-Q7 page 1 CBSE Board Exam – Accountancy Paper 2019 answer

    प्रश्नकर्ता mamta
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  • उत्तर
    उत्तरकर्ता Shivani
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    • Goodwill =  super profit * years of purchase.
    • Super profit = average profit – normal profit.

    Given:

    • capital of anuj and benu/capital employed=10,00,000
    • market rate/normal rate=15%
    • annual salary=60,000 each
    • net profit of last three years=3,00,000,3,60,000 and 4,20,000
    • no. of years purchase=2

    1.average profit

    annual salary=60,000 each

    anuj and benu=60,000+60,000

    =1,20,000

    annual salary will be minus because annual salary is the normal expenses

    net profit=3,00,000-1,20,000

    =1,80,000

    =3,60,000-1,20,000

    =2,40,000

    =4,20,000-1,20,000

    =3,00,000

    average profit=1,80,000+2,40,000+3,00,000/3

    =7,20,000/3

    =2,40,000

    2.normal profit=capital employed×normal rate/100

    =10,00,000×15/100

    =1,50,000

    3.super profit=average profit-normal profit

    =2,40,000-1,50,000

    =90,000

    4.goodwill=super profit×no. of years purchase

    =90,000×2

    =1,80,000

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