Question

Goodwill is to be valued at two years' purchase of 3 years normal average Profits of the
firms. The Profits for 2014 is * 20,000 (including insurance claim received of 35,000).
The loss of 2015 is * 15,000 (including voluntary retirement compensation paid * 1,05,000).
The Profit for 2016 is *75,000 (including a profit of 30,000 on sale of fixed assets).
Calculate the value of goodwill as on 1.1.2017.
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Answer 1

Explanation:

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