Bharat and Bhushan are the partners sharing profit in the ratio of 3 ratio 2 they decided to admit Mannu as a partner on 1st April 2019 on the following terms plz answer fastplz answer
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Explanation:
here is the answer for question no. 9 ts grewal 2019 published book
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normal profit of year ended 31march2019=30000+40000=70000
normal profit of year ended 31march 2018=80000-110000=30000
normal profit of year ended 31march 2017=110000-30000=80000
calculation of average profit
=70000+30000+80000÷3
=60000
calculation of goodwill=average profit ×no of purchase year
=60000×2
=120000
*compensation for retirement will be treated as abnormal loss
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