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Capitalof the firm of sharmaand verma …

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Capitalof the firm of sharmaand verma is 200000and market rateof interst is15%.annual salary to partneris 12000each.the profit for the last 3 year were 60000,72000and 84000.good will is to be valued at 2 years purchase of last 3year average profit.calculate goodwill of the firm

Posted by Ravi Kumar Yadav 7 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Hiten Raj 7 years, 3 months ago

Avg profit = 60,000+72,000+84,000/3 = 72,000 Adj. Avg profit =72,000-12,000 =60,000 Normal profit= 2,00,000×15/100 = 30,000 Super Profit = 60,000-30,00 = 30,000 Goodwill = 30,000×2= 60,000

Sanjana Tiwari 7 years, 3 months ago

May be 60000-goodwill

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