Question

Q2 Roshan and Kapil are partners in a
firm. Their. (6)
capitals are: Roshan Rs.30,000 and
Kapil Rs.20,000
during the year ended 31st March,
2020, the firm
earned a profit of Rs. 15,000.
Assuming that the normal
rate of return is 20%, calculate the
value of goodwill of
the firm of Rashid and Komal.
12:39​

Answer 1

Answer:

average profit = 15,000

Normal profit = (30,000 + 20,000) × 20/100 = 10,000

super profit = 15,000 - 10,000 = 5000

goodwill = super profit×no of year purchase