Question

Illustration 3 (Simple Average Profits Method) Ganesh and Co. decided to purchase a business. Its profits for the last years were

2001

1998 1999 Rs 10.000 Rs 50.000 2000 Rs 48.000 Rs 16.000 The business was looked after by ihe thiiatement Remineration from alternative employment if not toged in the business, comes to Rs.6,000 pa. Findout the anount of goodwill, it is valued on the basis of 3 years purchase

of the average nci profit for the last 4 years.
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Answer 1

Explanation:

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