Question

Profit of last 3 years rupees 6000 and rupees 13000 and rupee8000 the value of goodwill at 2 year purchased of average profit will be

Answer 1

Answer:

18000

Explanation:

total profit = 6000 +13000 + 8000 = 27000

Average profit = 27000/3

= 9000

goodwill = 9000 * 2

= 18000

Answer 2

27,000

Explanation:

Given:

1st Year profit = 6,000

2nd year profit = 13,000

3rd year profit = 8,000

Calculation:

Method : Average Profit Method

Goodwill = Average Profit x Year of purchase

Goodwill = [Sum of all Profit / number of the year] x Year of purchase

               = [ (6,000 + 13,000 + 8,000) / 3 ] x 2

               = [27,000 / 3] x 2

               = 18,000 x 2

               = 27,000

Therefore, Goodwill of the firm is 27,000

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