Question

Vasudevan, Sunderarajan and Agrawal are in partnership sharing profit and losses
at the ratio of 2:5:3. The Balance Sheet of the partnership as on 31.12.2019 was as given above.
The partnership earned profit 2,00,000 in 2019 and the partners withdrew
1,50,000 during the year. Normal rate of return 30%.
You are required to calculate the value of goodwill on the basis of 5 years' purchase
of super profit. For this purpose, calculate super profit using average capital
employed.​

Answer 1

Answer:

this question can be solved in the following way