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The following information relate to a …

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The following information relate to a firm of Yuvraj, Maharaj and (a) Profit for the last four years: 2012 2013 (Profit) 2014 (Loss) 2015 (Profit) (b) Remuneration to each partners Rs 1,000 p.m. (to be treated as a chan (c) Average capital employed in the business is Rs 8,00,000 (d) Normal rate of return is 15%. Rs 2,50,000 R$ 2,70,000 Rs 1,80,000 Rs 5,24,000 TI (Profit) (e) Assets (excluding goodwill) Rs 8,75,000; Liabilities Rs 32,000. You are required to calculate the value of goodwill: (i) At 2 years purchase of Average Profits, (ii) At 3 years purchase of Sup basis of Capitalisation of Super Profit, and (iv) On the basis of Capitalisa Ans. (1) Rs 3,60,000; (ii) Rs 1,80,000; (iii) Rs 4,00,00

Posted by Alefiya Nalwala53 2 years ago

CBSE > Class 12 > Accountancy

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