The factories act, minimum wages act, payment of gratuity act, shops and establishment act are followed by •organised sector •unorganised sector •agriculture sector •household sector
Answers
Explanation:
Grewal Vol. I (2018) Solutions for Class 12 Commerce Accountancy Chapter 2 Goodwill: Nature And Valuation are provided here with simple step-by-step explanations. These solutions for Goodwill: Nature And Valuation are extremely popular among Class 12 Commerce students for Accountancy Goodwill: Nature And Valuation Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the Ts Grewal Vol. I (2018) Book of Class 12 Commerce Accountancy Chapter 2 are provided here for you for free. You will also love the ad-free experience on Meritnation’s Ts Grewal Vol. I (2018) Solutions. All Ts Grewal Vol. I (2018) Solutions for class Class 12 Commerce Accountancy are prepared by experts and are 100% accurate.
Page No 2.20:
Question 1:
Goodwill is to be valued at three years' purchase of four years' average profit. Profits for last four years ending on 31st March of the firm were:
2016 − ₹ 12,000; 2017 − ₹ 18,000; 2018 − ₹ 16,000; 2019 − ₹ 14,000.
Calculate amount of Goodwill.
ANSWER:
Number of years’ purchase = 3
Page No 2.20:
Question 2:
The profit for the five years ending on 31st March, are as follows:
Year 2014–₹ 4,00,000 Year 2015–₹ 3,98,000; Year 2016–₹ 4,50,000; Year 2017–₹ 4,45,000; Year 2018–₹ 5,00,000.
Calculate goodwill of the firm on the basis of 4 years' purchase of 5 years' average profit.
ANSWER:
Goodwill=Average Profits×Number of Years' Purchase Average Profits =
Total Profits
Number of Years
=
4,00,000+3,98,000+4,50,000+4,45,000+5,00,000
5
=
21,93,000
5
=Rs 4,38,600 Goodwill =4,38,600×4=Rs 17,54,400
Page No 2.20:
Question 3:
Calculate value of goodwill on the basis of three years' purchase of average profit of the preceding five years which were as follows:
Year 2017–18 2016–17 2015–16 2014–15 2013–14
Profits (₹) 8,00,000 15,00,000 18,00,000 4,00,000 (Loss) 13,00,000
ANSWER:
Answer:
10th
Economics
Sectors of the Indian Economy
Sectors of the Indian Economy
In which sector do workers ...
ECONOMICS
In which sector do workers have the advantage of paid leave?
December 30, 2019
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Pardeep Dhavna
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ANSWER
The enterprises or places of work where the terms of employment are regular and therefore, people have assured work.
They are registered by the government and have to follow its various laws such as the Factories Act, Minimum Wages Act, Payment of Gratuity Act, Shop and Establishment Act, etc. Workers enjoy the security of employment, they work only fixed a number of hours and given benefits like paid leave, Provident Fund, and medical facilities.