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The capital of the firm of anuj and benu is 1000000 and the market rate of interest is 15%.Annual salary to the partners is 60000 each. The profit for last three years were 280000, 380000 and 420000. Goodwill of the firm is to be valued on the basis of two years of purchase of last three years average super profit. Calculate the goodwill of the firm |
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Answer» Answer: hii buddy here is the answer to that question Explanation: Goodwill = 3 YEARS average of super profits Super profit = Average profit - Normal profit = {(30000+ 36000 +42000 ) /3 )- 12000/- as SALARY} - ( 100000 x 15/100) =24000-15000 = 9000 Goodwill=9000 x 2 =18000 ORFor computing the goodwill FIRST we have to determine the super profit which is shown below: As we know that Super profit = Average profit - normal profit where, Average profit is = (Rs 30,000 + Rs 36,000 + Rs 42,000) ÷ (3 years) = Rs 108,000 ÷ 3 years = Rs 36,000 And, the normal profit is = INTEREST on CAPITAL + partner salary The interest on capital is = Rs 1,00,000 × 15% = Rs 15,000 And, the partner salary is = 6,000 × 2 partners = Rs 12,000 So, the normal profit is = Rs 15,000 + Rs 12,000 = Rs 27,000 So, the super profit is = Rs 36,000 - Rs 27,000 = Rs 9,000 Now the goodwill amount is = Super profit × number of years purchased = Rs 9,000 × 2 years = Rs 18,000 Hence, the goodwill amount is Rs 18,000 hope it will be helpful to yoube happy and healthy ❤️ Follow me^_________^ |
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