Question

Asin and shreya were partners sharing profit and loss in the ratio of 2:1 they admitted shyam as a partner for1/5 share in profit. Goodwill of the firm was to be valued on the basis of three years purchase of last five years average profit.

Answer 1

We know that,

Average profit= Sum of normal profit × No. of purchases year's/ Total no. of years

           = 1,25,000 + (1,00,000 + 25,000) + 1,87,500 - 62,500+ 1,25,000/ 5

           = 5,00,000/5

           = 1,00,000

Goodwill=  Average profit × no. of purchases year's

=1,00,000×3 =3,00,000

Hence, the goodwill of the firm is 3,00,000.

Answer 2

3,00,000 will be the answer ❤️