Question

The capital of ranjana and hema is business of partners hi paas ₹1,00,000 and ₹82,000 respectively.the rate of intrest in market was 15% .
Salary of ranjana and hema was ₹10,900 each. The three years profit of the firm were ₹54,600 ₹65,520 and 76,440 respect belt .Calculate the value of good will on the basis of 2 years purchase of the last three years average super profit

Answer 1

Answer: SUPER PROFIT = AVERAGE PROFIT - NORMAL PROFIT

   Average profit = (54600+65520+76440)/3

                           = 65520

normal profit =[ 182000 ( 100000+82000)] ×15/100

                    = 27300

SUPER PROFIT =65520 - 27300

                         = 38220

GOODWILL = 38220×2

                   = 76440