Dhruv and Seema were partners in a firm sharing profits and losses in the ratio of 2: 3. Their capitals were 18,00,000 and ₹ 12,00,000 respectively.…

Goodwill = Super Profit × Number of years’ purchase Super Profit = Average Profit − Normal Profit Corrected Profit of $\displaystyle 2024$-$\displaystyle 25$ after adjustment of undervaluation of closing stock = $\displaystyle 7{,}00{,}000$ + $\displaystyle 1{,}00{,}000$ = ₹$\displaystyle 8{,}00{,}000$ Average Profit = $\displaystyle 7{,}75{,}000$ + $\displaystyle 5{,}00{,}000$ + $\displaystyle (75,000)$ + $\displaystyle 8{,}00{,}000$ $\displaystyle 4$ = $\displaystyle 20{,}00{,}000$ $\displaystyle 4$ = ₹$\displaystyle 5{,}00{,}000$ Capital Employed = $\displaystyle 18{,}00{,}000$ + $\displaystyle 12{,}00{,}000$ = ₹$\displaystyle 30{,}00{,}000$ Normal Profit = Normal Rate of Return x Capital Employed $\displaystyle 100$ = $\displaystyle 15$/$\displaystyle 100$ × $\displaystyle 30{,}00{,}000$ = ₹$\displaystyle 4{,}50{,}000$ Super Profit = $\displaystyle 5{,}00{,}000$ − $\displaystyle 4{,}50{,}000$ = ₹$\displaystyle 50{,}000$ Goodwill = $\displaystyle 50{,}000$ × $\displaystyle 3$ = ₹$\displaystyle 1{,}50{,}000$