Question

14. The capital of a firm consisting of partners A and B was 1,50,000 on
31st December, 2016. They had 20,000 as reserves on that date.
If the goodwill of the firm was valued at 42,000 on the basis of 3
years' purchase of super profit and 10% was considered as fair
return, find the average profit earned by the firm.​

Answer 1

Answer:

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Explanation:

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