Question

4. A and B are partners in 2: 1 ratio. C is admitted for shares in profits.
Calculate goodwill at 60% of average profits of the last four years :
Year
Profit
₹
8,000
1
2
3
1 2 times of 3rd year
Profit for the first 6 months is 40% of profit of first year and
remaining 6 months profit is two times of first six months profits
50% of profit of second year
4
Calculate C's share in goodwill​

Answer 1

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