Question

if purchase consideration is rs 482000 and net asset is rs 425000 then find out good
will​

Answer 1

Answer:

57000

The cost of goods is 57000

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Answer 2

Under Net assets method of purchase consideration , all assets are added and liabilities are deducted from the total of assets.

If any extra amount is paid against purchase consideration over and above the net assets, the balance amount is considered as payment for goodwill.

For example:

Plant & Machinery Rs.200000

Land & Building Rs.100000

Debtors Rs.50000

Stocks Rs.30000

---------------------

Total Assets Rs.380000

Less: Liabilities Rs.80000

--------------------

Net Assets Rs.300000

If purchase consideration is Rs.400000

Goodwill= Purchase Consideration-Net Assets

= Rs.400000−Rs.300000

Amount paid towards Goodwill is Rs.100000.