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On 1st April, 2018, a firm …

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On 1st April, 2018, a firm had assets of 1,00,000 excluding stock of 20,000. The current liabilities were 10,000 and the balance constituted Partners' Capital Accounts. If the normal rate of return is 8% the Goodwill of the form is valued of rupees 60000 at four years purchase of super find the actual profits of the firm

Posted by Priya Ranjan 2 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Tera Baap Baap Hu Be 2 years, 4 months ago

capital employed= Total assets-outsiders liability 100000&10000=90000 Normal profit=capital employed*NRR\100 90000*8\100=7200 15000=actual profit-7200 actual profit=15000+7200=22200

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