Question

Q. 18. Calculate the value of goodwill as on 1st April, 2015, on the basis of 2
2
year's purchase of the average profits of the last five years. The profits and losses for
the years ending 31st March were: 2010 580,000; 2011 1,00,000; 2012 Loss
F30,000; 2013 1,70,000; 2014 1,60,000 and 2015 1,80,000. You are informed that
the profits of the year ending 31st March 2014 included profit on sale of a fixed asset
amounting to 50,000 and the profits for the year 2015 were effected by a loss due to
fire amounting to $20,000.
[Ans. 2,75,000.]​

Answer 1

Answer:

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Explanation:

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