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प्रश्न
Ayub and Amit are partners in a firm and they admit Jaspal into partnership w.e.f. 1st April, 2019. 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 (₹) | |
| 31st March, 2015 | 1,50,000 | |
| 31st March, 2016 | 1,80,000 | |
| 31st March, 2017 | 1,00,000 | (Including abnormal loss of ₹ 1,00,000) |
| 31st March, 2018 | 2,60,000 | (Including abnormal gain (profit) of ₹ 40,000) |
| 31st March, 2019 | 2,40,000 |
The firm has total assets of ₹ 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.
उत्तर
Goodwill = Super Profit x No. of Years' Purchase
= 48,000 x 3 = Rs. 1,44,000.
Working Notes:
WN: 1 Calculation of Normal Profits:
|
Year |
Profit/(Loss) (Rs) |
Adjustment |
Normal Profit (₹) |
|
31 March, 2015 |
1,50,000 |
- |
1,50,000 |
|
31 March, 2016 |
1,80,000 |
- |
1,80,000 |
|
31 March, 2017 |
1,00,000 |
1,00,000 |
2,00,000 |
|
31 March, 2018 |
2,60,000 |
(40.000) |
2,20,000 |
|
31 March, 2019 |
2,40,000 |
- |
2,40,000 |
|
|
|
Total Profit |
9,90,000 |
WN2: Calculation of Super Profits
table attributes columnalign left end attributes row cell text Average Profit end text equals fraction numerator text Total Profit of past given years end text over denominator text Number of Years end text end fraction end cell row cell text end text equals fraction numerator 9 comma 90 comma 000 over denominator 5 end fraction equals text ₹ 1,98,000 end text end cell row cell text Normal Profit end text equals text Capital Employed end text cross times fraction numerator text Normal Rate of Return end text over denominator 100 end fraction end cell row cell text end text equals text 15,00,000 end text cross times 10 over 100 equals text ₹ 1,50,000 end text end cell row cell text Super Profit end text equals text Average Profit end text minus text Normal Profit end text end cell row cell text end text equals text 1,98,000 end text minus text 1,50,000 end text equals text ₹ 48,000 end text end cell end table.
WN3: Calculation of Capital Employed
Capital Employed = Total Assets - Outside Liabilities
= 20,00,000 - 5,00,000 = Rs. 15,00,000.
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संबंधित प्रश्न
Compute the value of goodwill on the basis of four years’ purchase of the average profits based on the last five years? The profits for the last five years were as follows:
| Rs. | |
| 2013 | 40,000 |
| 2014 | 50,000 |
| 2015 | 60,000 |
| 2016 | 50,000 |
| 2017 | 60,000 |
The books of Ram and Bharat showed that the capital employed on 31.12.2016 was Rs. 5,00,000 and the profits for the last 5 years : 2015 Rs. 40,000; 2014 Rs. 50,000; 2013 Rs. 55,000; 2012 Rs. 70,000 and 2011 Rs. 85,000. Calculate the value of goodwill on the basis of 3 years purchase of the average super profits of the last 5 years assuming that the normal rate of return is 10%?
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| Year Ended | 31st March, 2016 | 31st March, 2017 | 31st March, 2018 | 31st March, 2019 |
| Profits (₹) | 80,000 | 145,000 | 160,000 | 200,000 |
Books of Account revealed that:
(i) Abnormal loss of ₹ 20,000 was debited to Profit and Loss Account for the year ended 31st March, 2016.
(ii) A fixed asset was sold in the year ended 31st March, 2017 and gain (profit) of ₹ 25,000 was credited to Profit and Loss Account.
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| Liabilities |
Amount (₹) |
Assets | Amount (₹) |
|
| Capital A/cs: | Furniture | 4,00,000 | ||
| Varuna | 5,00,000 | Computers | 3,00,000 | |
| Karuna | 5,00,000 | 10,00,000 | Electrical Fittings | 1,00,000 |
| Long-term Loan | 5,50,000 | Investments (Trade) | 2,00,000 | |
| Sundry Creditors | 2,00,000 | Stock | 3,00,000 | |
| Outstanding Expenses | 50,000 | Sundry Debtors | 3,00,000 | |
| Advances from Customers | 1,50,000 | Bills Receivable | 50,000 | |
| Cash in Hand | 50,000 | |||
| Cash at Bank | 2,00,000 | |||
| Deferred Revenue Expenditure: | ||||
| Advertisement Suspense | 50,000 | |||
| 19,50,000 | 19,50,000 | |||
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Weight |
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| 2017 | 16,000 | 3 |
| 2018 | 18,000 | 4 |
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