Question

3. On April 1, 2020 an existing firm had assets of ₹1,00,000 excluding stock of ₹20,000. The current

liabilities were ₹10,000 and the balance constituted partner’s capital accounts. If the normal rate of

return is 8%, the goodwill of the firm is valued at ₹60,000 at 4 years purchase of super profit, find the

actual profits of the firm.​

Answer 1

Explanation:

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