Question

Geet and Meet are partners in a firm. They admit Jeet into partnership for equal share. It was agreed that
goodwill will be valued at three years' purchase of average profit of last five years. Profits for the last five
years were:
Profits
31st March, 2018 31st March, 2019 31st March, 2020
90,000 (Loss) 1,60,000
1,50,000
65,000
1,77,000
Books of Account of the firm revealed that:
(1
) The firm had gain (profit) of 50,000 from sale of machinery sold in the year ended 31st March,
2017. The gain (profit) was credited in Profit and Loss Account.
(ii) There was an abnormal loss of 20,000 incurred in the year ended 31st March, 2018 because of a
machine becoming obsolete in accident.
(ii
) Overhauling cost of second hand machinery purchased on 1st July, 2018 amounting to
1,00,000 was debited to Repairs Account. Depreciation is charged @ 20% p.a. on Written Down
Value Method
Calculate the value of goodwill.
Year Ended 31st March, 2016 | 31st March, 2017​

Answer 1

Answer:

WHO announced that the hydroxychloroquine (HCQ) arm of the Solidarity Trial to find an effective COVID-19 treatment was being stopped.  

The trial's Executive Group and principal investigators made the decision based on evidence from the Solidarity trial, UK's Recovery trial and a Cochrane review of other evidence on hydroxychloroquine.  

Data from Solidarity (including the French Discovery trial data) and the recently announced results from the UK's Recovery trial both showed that hydroxychloroquine does not result in the reduction of mortality of hospitalised COVID-19 patients, when compared with standard of care.  

Investigators will not randomize further patients to hydroxychloroquine in the Solidarity trial. Patients who have already started hydroxychloroquine but who have not yet finished their course in the trial may complete their course or stop at the discretion of the supervising physician.

Explanation: