Question

Ans. Value of Goodwill 290,200.J
Lowlate the value of goodwill on the basis of three year's purchase of the
1 Q. 6. Calculate the value of goodwill
overage profits of the last five years. Profits to be weighted 1.2.3.4 and 5
weighted average profits of the last five
ears were :
the greatest weightage to be given to last year. Profits of the last five vears
Year ended
80,000
31st March, 2015: Profit
2016: Profit 1,05,000 (after considering abnormal loss
of 41,500)
2017: Loss 20,000 (after considering abnormal gain
of 40,000)
► 2018: Profit 1,80,000
2019: Profit 2,00,000
Books of Accounts of the firm revealed that:
Closing Stock as on 31st March, 2015 was overvalued by 340,000.
(0) Repairs to Machinery 60,000 were wrongly debited to Machinery Account
on 1st July, 2017. Depreciation was charged on Machinery @ 20% p.a. on
diminishing balance method.
Ans. Value of Goodwill 33,60,000.]
Profit for the year ended 31st March 2018 35,16,000 and 2019
cciden
sed and
> is to
Hint: Weighted Profit for the
110.51.000.
Super Profit Moth​

Answer 1

Answer:

Explanation:

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