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📘 Goodwill: Nature and Valuation | Question 22-25 | Class 12 Accounts | Chapter 2 | TS Grewal Solutions | CBSE 2026

In this video, we solve Question 22-25 of Chapter 2 – Goodwill: Nature and Valuation from TS Grewal’s Double Entry Book Keeping (Class 12 Accounts).
This step-by-step solution will help you clearly understand the concept of goodwill and its valuation methods as per the CBSE 2026 syllabus.

✨ What you will learn in this video:

Concept of Goodwill

Methods of Valuation of Goodwill

Step-by-step solution to Question 22-25

Easy approach for exams (CBSE / ISC / State Boards)

📚 Useful for:
✔️ CBSE Class 12 Accounts
✔️ ISC, IB, IGCSE, State Boards
✔️ Commerce students preparing for exams

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22. Average profit earned by a firm is 1,00,000 which includes undervaluation of stock of & 40,000 on an average basis. The capital invested in the business is & 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.
(Al 2015 C)
[Ans.: 542500

23. Average profit earned by a firm is 7,50,000 which includes overvaluation of stock of & 30,000 on an average basis. The capital invested in the business is 42,00,000 and the normal rate of return is 15%.
Calculate goodwill of the firm on the basis of 3 times the super profit.
[Ans.: Goodwill— 2,70,000.]

24.Akshay and Amit are partners in a firm and they admit Jaspal into partnership w.e.f. 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:
Year Ended
Net Profit R)
31st March, 2021
1,50,000
31st March, 2022
1,80,000
31st March, 2023
1,00,000 (Including abnormal loss of & 1,00,000)
31st March, 2024
2,60,000
(Including abnormal gain (profit) of z 40,000)
31st March, 2025
2,40,000
The firm has total assets of 7 20,00,000 and Outside Liabilities of * 5,00,000 as on that date. Normal Rate of Return in similar business is 10%.
Calculate value of goodwill.
(Ans.: Goodwill—* 1,44,000.)