on 1 april 2017 a firm had assets of Rs 100000 excluding stock of Rs 20000 partner capital showed a balance of Rs 60000 the current liabilities were 10000 and balance constituted the reserve if normal rate of return is 8 % the goodwill of the year of purchase of super profit find average profit of the firm?
Answers
Answered by
0
The profits are gained so far in 1 years on 31st March, 2015 by Rs.3,46,000 and April 1st 2015 that includes an existing firm had assets of Rs.75000 including in recent years.
This have been taken with reserve fund and while grab partner capital accounts showed a balance of Rs.60000.
If the normal rate of return has taking proper value, it evaluated 20% and the goodwill of firm.
Similar questions