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Kabir and Farid are partners in …

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Kabir and Farid are partners in a firm sharing P&L in the ratio 3:1. On 01-04-2019 they admitted Manik into partnership for 1/4th share in the profits of the firm. Manik brought his share of goodwill premium in cash. Goodwill of the firm was valued on the basis of 2 years’ purchase of last three years average profits. The profits of last three years were: 2016-17 Rs.90,000 2017-18 Rs.1,30,000 2018-19 Rs.86,000 During the year 2018-19 there was a loss of Rs.20,000 due to fire which was not accounted for while calculating the profit. Calculate the value of goodwill.

Posted by Tanmay Khasa 1 year, 6 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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