Question

2.6. A, B and C are partners sharing profits and losses equally. They agree to
admit D for equal share. For this purpose goodwill is to be valued at 3 year's purchase
of average profits of last 5 years which were as follows :
₹
Year ending on 31st March 2007
60,000 (Profit)
Year ending on 31st March 2008
1,50,000 (Profit)
Year ending on 31st March 2009
20,000 (Loss)
Year ending on 31st March 2010
2,00,000 (Profit)
Year ending on 31st March 2011
1,85,000 (Profit)
On 1st October, 2010 a computer costing 40,000 was purchased and debited to
office expenses account on which depreciation is to be charged @25% p.a. Calculate
the value of goodwill.
[Ans. Goodwill 3,66,000.]​

Answer 1

Answer:

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