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calcuate the value of firm goodwill …

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calcuate the value of firm goodwill on the basis of one and half year purchase of the average profit of last three year .the profit for first year was₹100,000,profit for the second year was twice the profit of the first year and for the third year profit was one and half time of the profit of the second year

Posted by Priyanka Swami 6 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Neha Batra 6 years, 7 months ago

Average Profit = Profit of 1 year = 100000 Profit of 2 year= 2× 100000=200000 Profit of 3 year 3/2×200000=300000 100000+200000+300000÷3=rs 200000 Goodwill = average profit × year purchase =200000×1.5 = rs 300000

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