The goodwill of a firm is estimated at two years
purchase of the average profit of the last three years.
The profits are as under;
2015-2016 - 30,000 (including approximate gain of
Rs.15,000)
2016-17 - 30,000(after charging an abnormal loss of
Rs.20,000)
2017-18 - Rs.42,000(excluding 2000 as insurance
premium of property to be included)
Calculate amount of goodwill
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