Q.(a) From the following information, calculate the value of Goodwill based on 3 years purchase of Super Profit.

(a) Goodwill by super-profit method = ₹36,000. (b) Any five applications of a computerised accounting system, explained.

(a) Goodwill = 3 years' purchase of Super Profit

Step 1 — Normal profit = Capital employed × Normal rate of return

$= 2{,}00{,}000 \times \frac{15}{100} = ₹30{,}000$

Step 2 — Super profit = Average profit − Normal profit

$= 42{,}000 - 30{,}000 = ₹12{,}000$

Step 3 — Goodwill = Super profit × Number of years' purchase

$= 12{,}000 \times 3 = ₹36{,}000$

(b) Five applications of a Computerised Accounting System

1. Maintenance of accounting records — recording vouchers and automatically posting to ledgers, cash book and trial balance without manual writing.
2. Inventory management — keeping stock records, tracking quantities and values, and generating stock/re-order reports. …