Question

3.
The profits of the firm of A, B and C were as under
Year ended 31st March
Profits
2009
30.000
2010
46.000
2011
34.000
2012
44.975
You are required the following information:
(1) On 1st July, 2011 the firm purchased machinery costing 10.000 but it was charged to revenue
inadvertently. Depreciation @ 9% on straight line basis was also not charged on this machinery
(ii) During the year 2011-12. the personal expenses of * 2.000 of each partner was debited to travelling
expenses of the firm
(111) Value of closing stock for the year ended 31st March 2011 was found undervalued by * 1.000.
(iv) An annual insurance premium of 3 500 was also not recorded in any of the years. You are required
to calculate adjusted profits of all the years and the value of goodwill on the basis of two years
murchase of average profits of last four years
[Marks 5]

Answer 1

Answer:

1000000000000000⁰

Explanation:

10000000000000000