Calculation of Average profit and Super profit
Total profits = Rs. 1,47,600 - 1,48,100 + 4,48,700
= Rs. 4,48,200
Average profit = \(\frac{\text { Total profit }}{\text { No. of years }}=\frac{\text { Rs. } 4,48,200}{3}=1,49,400\) 
Less: Remuneration of 2 parties (2 x 500 x 12) = 12,000
Net Average profit                                            = 1,37,400
Less: \(\text { Normal profit capital employed } \times \frac{\text { Normal rate }}{100} \text { of return }\) 
= \(700000 \times \frac{18}{100}=1,26,000\) 
S.P. = A.P. - N.P. 
Super profit = 1,37,400 - 1,26,000 = 11,400
a) Average profit = Average profit \(\times\) No of year purchase
= Rs. 1,37,400 \(\times\) 3 = Rs. 4,12,200
b) Super profit = Super profit \(\times\) No of year purchase
= Rs. 11,400 \(\times\) 3 = Rs. 34,200
c) \(\text { Capitalisation of super profit }=\frac{\text { Super profit }}{\text { Normal Rate of Return }} \times 100\) 
\(=\frac{11,400}{18} \times 100\) 
= Rs. 63,333
d) \(\text { Capitalisation of Average profit }=\frac{\text { Average maintainable profit }}{\text { Normal Rate of return }} \times 100\) 
= \(\frac{\text { Rs } 1,37,400}{18} \times 100=\text { Rs. } 7,63,333\) 
(-) Actual capital employed = Rs. 7,00,000
Good will = Rs. 63,333

a) Capitalization of Average profit method
\(\text { Capital employed }=\frac{\text { Average profit }}{\text { Normal Rate of return }} \times 100\) 
\(=\frac{\text { Rs } 1,50,000}{20} \times 100=\text { Rs. } 7,50,000\) 
Goodwill = Total capital employed - Capital Invested
= Rs. 7,50,000 - 5,00,000
= Rs. 2,50,000
b) By super profit method
Normal profit =  \(\text { Capital employed } \times \frac{\text { Rate of return }}{100}\) 
Normal profit = \(5,00,000 \times \frac{20}{100}=\text { Rs. } 1,00,000\) 
Super profit = Average profit - Normal profit
= Rs. 1,50,000 - 1,00,000
= Rs. 50,000
Value of Goodwill = Super profit \(\times\) no.of years purchase
= Rs. 50,000 \(\times\) 2
= Rs. 1,00,000
Goodwill : Capitalisation method Rs. 2,50,000 ;Super profit method Rs. 10,000.

Total capitalised value of the average profit
\(=\frac{Average\ profit}{Normal\ rate\ of \ return}\times 100\)
\(=\frac{60,000}{10}\times100\)
= Rs.6,00,000
Goodwill= Total capitalised value of the average profit - Capital employed
= 6,00,000 - 5,60,000
= Rs. 40,000

Average profit \(=\frac{Total\ profit}{Number\ of\ profits}\)
\(=\frac{16,000+18,000+20,000}{3}\)
\(=\frac{54,000}{4}=Rs. 18,000\)
Normal profit = Capital employed x Normal rate of return
= 1,00,000 x 15%
= Rs.15,000
Super profit = Average profit - Normal profit
= 18,000 - 15,000
= Rs.3,000
Goodwill = Super profit x Value of annuity
= 3,000 x 2.4868
= Rs.7,460.40

Average profit \(=\frac{Total\ Profit}{Number\ of \ years}\)
Average profit \(=\frac{1,00,000+50,000+70,000+54,000+10,000}{5}\)
Average profit \(=\frac{2,84,000}{5}=Rs. 56,000\)

Normal profit = Capital employed x Normal rate of returns
=60,000x20%
=Rs.12,000
Super profit = Average profit - Normal profit
= 53,200 - 12,000
=Rs. 41,200
Goodwill = Super profit x Number of years of purchase
=41,200x5
Rs. 2,06,000

Normal profit = Capital employed x Normal rate of return
= 1,00,000 x 10% = Rs. 10,000
Super profit = Average profit - Normal profit
=42,000 - 10,000 = Rs. 32,000
Goodwill = Super profit x Number of years of purchase
=32,000 x 3
=Rs. 96,000

Weighted average profit \(=\frac{Total\ of\ weighted\ profits}{Total\ of\ weights}\)
\(=\frac{4,96,000}{10}=Rs.49,600\)
Goodwill = Weighted average profit x Number of years of purchase
= 49,600 x 3 = Rs. 1,48,800

Average profit \(=\frac{Total\ profit}{Number\ of\ years}\)
\(=\frac{20,500+17,000+30,000}{3}\)
\(\frac{67,500}{3}\)
Average profit =Rs. 22,500
Goodwill =Average profitxNumber of years of purchase
=22,500x2=2=45,000
[Note: Over valuation of closing stock in 2017 will result in over valuation of opening stock in 2018]

Average profit \(=\frac{Total\ profit}{Number\ of\ years}\)
\(=\frac{20,000+25,000+24,000+23,000}{4}\)
\(\frac{92,000}{4}\)
Average profit =Rs.23,000
Average profit before adjusting fair remuneration of the partner = Rs.23,000
Less:
Fair remuneration of partners  =3,000
                                                         _____
Average profit                              =20,000
                                                         _____
Goodwill = Average profit x Number of years of purchase
=20,000x3= Rs. 60,000

Goodwill = Average profit x Number of years purchase
Average profit =\(\frac{Total\ profit}{Number\ of\ years}\)
\(=\frac{20,000+25,000-3,000+18,000}{4}\)
\(=\frac{60,000}{4}\)
Rs. 15000
Goodwill =Average profit x Number of years of purchase
=15,000x5=75,000
Goodwill=Rs.75,000