Question

Super profit method Calculate goodwill at two years purchase of super profit 1. Normal rate of return 2.asset. machinery200000,building30000,stock70000,debtors25000,provisions for doubtful debts5000,preliminary expemses10000
Liabilitie. Creditors20000,bank loan 40000
Profits,ist year8000, 2nd year105000,3rd year9000
Charge depriciation at 10%p.a on building in 3rd year Deduct depriciation on building @10% from 3rd year profits and also from building

Answer 1

Answer:

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