Rishi and Krish were partners in the firm they admitted harsh. the goodwill of the firm is to be valued at 3 years purchased of the average profit of the past 4 years .the profit and losses as follows.
31|03|2015- rs 875000- profit
31|03|2016- rs 40000- loss
31|03|2017- rs 55500- profit
31|03|2018- rs 33000- profit
under average method
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Answer:
the answer is ....
- average profit =875000+55000+33000-40000/4
- =923500/4
- 230875
Goodwill =average profit * no.of years purchase
=230875*3
=692625
Explanation:
hope this answer is helpful....
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31.03.2015 = ₹ 8,75,000 profit
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