Q. 14. A and B are partners. They admit C for-th share in profits. For this purpose
[Ans. Capital Employed 36,00,000]
goodwill is to be valued at three year's purchase of super profits.
Following information is provided to you:
A's Capital
B's Capital
General Reserve
Profit & Loss A/c (Cr.)
Sundry Assets
5.00.000
4,00.000
1.50,000
30.000
12,00.000
The normal rate of return is 15% p.a. Average Profits are ₹200000 per year. You are requested to calculate C's share of goodwill.
Hint- Sundry Assets will be ignored.
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3600000.......................
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