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On April 1 2018 a firm …

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On April 1 2018 a firm had Assets of rupees 100000 excluding stock of rupees 20000. the current liabilities were 10000 and the balance constituted partners capital account. if normal rate of return is 8% the Goodwill of the firm is valued at rupees 60000 at 4 years purchase of super profit find the actual profit of the firm

Posted by Varun Bothra 7 years ago

CBSE > Class 12 > Accountancy

2 answers

Gurpreet Singh 7 years ago

Capital employed = total assets - current liab So 120000-10000 = 1,10,000 Normal profit = capital employed x NRR/100 So 1,10,000 x 8/100 = 8800 Now, g/w is given by 60000 superprofit = 15000 Super profit = actual average profit- normal profit 15000 = actual profit - 8800 Ans- actual profit = 23800

Harvind Singh 7 years ago

23800

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