Question

b. From the following information, calculate the value of goodwill of Sharma and
Gupta:
(10)
i. At three years purchase of Average Profit
ii. At three years purchase of Super profit
iii. On the basis of Capitalisation of Average Profit
iv. On the basis of Capitalisation of Super Profit
Information
1. Average Capital employed RS. 10,00,000
2. Net Profit of the firm of the past years: 2017-RS. 1,60,000, 2018- RS. 1,40,000,
2019- RS. 2,70,000
3. Normal Rate of Return on capital is 11%
4. Renumeration to each partner for his service not included in the profit - RS.
2,500 per month
5. Assets (excluding goodwill - RS. 11,00,000 and Liabilities- RS. 1,00,000 (10)​

Answer 1

Answer:

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Explanation:

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