Question

The following were the profits of a firm for the last three years:
Year ending 31st march (profit)
2012 ₹4,00,000 including an abnormal gain of₹5,000)
2013 ₹1,50,000 (After changing an abnormal loss of ₹10,000)
2014 ₹1,45,000(Exculding ₹5,000 as insurance premium of firm's property now to be insured)
Calculate the value of firm's goodwill on the basis of 2 years purchase of the average profit for the last three years.
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Answer 1

Answer:

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