Question

X and Y are partners sharing profit and losses equally. It had been agreed
that if a partner retires, the other partner, should he desire to carry on the
business, shall pay to the retiring partner hi share by four equal half-yearly
instalments together with interest @ 5 percent annum with half-yearly rests.
Goodwill is to be valued on the basis of five years' capitalisation of the
average annual super- profits of three preceding financial years, fixed
assets being revalued for the purpose. The Balance Sheet of the firm as at
31st December, 2003 was as follows:
Liabilities
Amount Assets
Amount
(*)
(*)
Creditors
9,160 Cash in 13,000
Capital
22,420 hand
10,200
Alc's: X
16,650 Book debts
5,730
19,300​

Answer 1

Answer:

100000 is your right answer