Accountancy, asked by hariomguptagkp123, 2 months ago

A and b are partners sharing profit and losses in the ratio of 3:1 . it was decided that with effect from 1st April 2015 the profit sharing ratio will be 5:3 goodwill is to be valued at 2 years purchase of average of 3 years profits . the profits for the year ending 31st March 2013, 2014,2015 were 36000 and 32000 and 40000 respectively.​

Answers

Answered by reddysekhar17mcom
4

Answer:

Goodwill Rs. 72,000

Explanation:

Average profit = Total profits/ Numbers of years profits

= 36000 + 32000 + 40000/3

= 1,08,000/3

= Rs.36,000

Goodwill. = Avg profits X Number of years purchase

= 36,000 X 2

= Rs. 72,000

Similar questions