Accountancy, asked by sandeep433, 10 months ago

Profits of a firm for the year ended 31st March for the last five years were:
Calculate value of goodwill on the basis of three years purchase of Weighted Average Profit after assigning weights 1, 2, 3, 4 and 5 respectively to the profits for years ended 31st March, 2014, 2015, 2016, 2017 and 2018.

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Answered by anamkhurshid29
5

HEYA MATE GOOD QUESTION

times the average annual profit of the previous four or five years whichever is higher. The agreed profits for goodwill

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Answered by kingofself
11

Explanation:

Working Notes:

Goodwill $=$ Weighte Average Profit $\times$ Number of years' purchase$$=23,200 \times 3=\mathbf{} 69,600$$

Weighted Average Profit = \frac{Total Product of Profits}{Total of Weights}

=\frac{3,48,000}{15}=23,200$$

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