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On April 1st 2018 an existing …

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On April 1st 2018 an existing firm had assets of 500000 including cash of 25000 the partners capital accounts showed a balance of 350000 and reserve constituted the rest .if the normal rate of return is 10per and the goodwill of the firm is valued at 132000 at 4year purchase of super profit ,find the average profit of the firm.

Posted by Nikhil Maheshwari 5 years, 10 months ago

CBSE > Class 12 > Accountancy

3 answers

Archana Verma 5 years, 10 months ago

Good will is equal to super profit into no.of pur.year 132000=super profit×4 Sp= 132000/4=33000 Np=cap.employed×normal return/100 500000×10\100 =50000 Sp=AP_NP 33000=AP-50000 AP=33000+50000 Ap=83000 Outside liabilities are not given, they assume to be nil .thus capital employed is equal to total assets

Nikhil Maheshwari 5 years, 10 months ago

Abhi nahi ha aap calculate krke bhej do

Archana Verma 5 years, 10 months ago

Answr sheet me kitna answer ha pls give

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