Question

Duuteen
11. Bhaskar and Pillai are partners sharing profits and losses in the ratio of 3:2. They admit Karika
partnership for 1/4th share in profit. Kanika brings her share of goodwill in cash. Goodwill for this
is to be calculated at two years' purchase of the average normal profit of past three years. Profits as
2018-Profit * 50,000 (including profit on sale of assets 5,000).
2020—Profit * 70,000 (including insurance claim received 18,000 and interest on investments and
2018-Profit 1,10,000
Calculate the value of goodwill.
last three years ended 31st March, were:
2019-LOSS 320,000 (including loss by fire ? 30,000).
Dividend received 8,000).
Calculate the value of goodwill. Also, calculate goodwill brought by Kanika.

Answer 1

Answer:

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Explanation:

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