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Yash and Karan were partners in …

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Yash and Karan were partners in an interior designer firm. Their fixed capitals were 6lac rs. and 4lacs rs. respectively. There were cr. balances in their current acc. of 4lacs and 5 lacs respectively. The firm had a balance of one lac in general reserve. The firm didnt have any liability. They admitted Radhika into partnership for the one fourth share in the profits of the firm. The avg. Profits of the firm for the last 5 yrs were 5lacs. Calculate the value of goodwill of the firm by capitalization of avg. Profits method. The normal rate of return in the business is ten%.

Posted by Khushi Saini 3 years, 7 months ago

CBSE > Class 12 > Accountancy

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