Question

P, Q and R are partners in a firm sharing profits in the ratio 5:3:2. P retires. Calculate the amount of Goodwill given by Q and R to P if goodwill is to be calculated on the basic of 2 years purchase of last 3 years average profit, profits for the last 3 years are ₹3,28,000, ₹3,46,000 and ₹4,00,000.
Select one:
a. ₹3,16,000 and ₹1,42,000 b. ₹2,44,000 and ₹2,16,000 c. ₹2,14,800 and ₹ 1,43,200
d. ₹ 2,16,000 and ₹ 1,44,000

Answer 1

Answer:

$\huge\fcolorbox{red}{yellow}{hi}$

Answer 2

Answer:

goodwill = (3,28,000+3,46,000+4,00,000)/3 × 2 = 7,16,000

Q:R gaining ratio ---> 3:2

Q's contribution= 3/5×7, 16,000=

R's contribution = 2/5×7, 16,000