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annual profit shown by a bissiness is 20000 normal rate of return 10%. total assets of the business firm 240000 and liabilities are 80000 values of goodwill be

Posted by Himanshu Kanyal 5 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Vaishali Singh 5 years, 1 month ago

Profit = Rs. 20,000 Rate of interest = 10% Capital invested = assets - liability = 2,40,000 - 80,000 = Rs. 1,60,000 Normal profit = capital invested x rate of interest = 1,60,000 x 10/100 = Rs.16,000 Now, Super profit = Average profit - Normal profit = 20,000 - 16,000 = Rs. 4,000 So, Goodwill = supper profit x rate of interest = 4,000 x 10 = Rs. 40,000 Hence, the goodwill of the firm is Rs. 40,000.

Himanshu Kanyal 5 years, 1 month ago

40000

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