Question

Q. 43. Calculate the value of goodwill as on 1st April, 2015, on the basis of 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 80,000; 2011 31,00,000; 2012 Loss
30,000; 2013 1,70,000; 2014 1,60,000 and 2015 1,80,000. You are informed that
is 7%. Calculate goodwill of the
Jer profit.
(C.B.S.E. 2015, Comptt.)
ofit *80,000; Goodwill 31,55,000.]
invested in the
a
amounting to 350,000 and the profits for the year 2015 were effected by a loss due to
fire amounting to $20,000.
[Ans. $2,75,000.]
od Hint. Profit for the year 2010 will be ignored.

Answer 1

Answer:

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