Profits of a firm for the year ended 31st March for the last five years were:

Calculate value of goodwill on the basis of three years' purchase Weighted Average Profit after assigning weights 1, 2, 3, 4 and 5 respectively to the profits for years ended 31st March, 2015, 2016, 2017, 2018 and 2019.

Profit of a firm for the last five years were: Calculate value of goodwill on the basis of three years' purchase of the weighted average profit after assigning weights 1, 2, 3, 4 and 5 respectively to the profits for years ended 31st March, 2015, 2016, 2017, 2018 and 2019.

Mambir and Nimrat are partners and they admit Anahat into partnership. It was agreed to value goodwil at three years' purchase on Weighted Average Profit Method taking profits of last five years. Weights assigned to each year as 1, 2, 3 and 5 respectively to profits for the year ended 31st March, 2015 to 2019. The profits for these years were: Rs. 70,000, Rs. 1,40,000, Rs. 1,00,000, Rs. 1,60,000 and Rs. 1,65,000 rspectively. Scrutiny of books of account revealed following information: (i) There was an abnormal loss of Rs. 20,000 in the year ended 31st March, 2015. (ii) There was and abnormal gain (profit) of Rs. 30,000 in the year ended 31st March, 2016. (iii) Closing Stock as on 31st March, 2018 was overvalued by Rs. 10,000. Calculate the vlaue of goodwill.

The profits ear ned by a firm during the last four years were as follows: {:("Year ended 31st March","Profits (Rs.)"),(2013,"80,000"),(2014,"1,00,000"),(2015,"1,10,000"),(2016,"1,50,000"):} Calculate the value of goodwill on the basis of three year's purchase of weighted average profits. Weights to be used are 1,2,3 and 4 respectively to the profits for 2013, 2014, 2015 and 2016.

(Weighted Average Profit Method when Past Adjustments are Made.) Akhil and Nikhil are partners sharing profits equally. They admitted Dinesh into partnership. It was agreed to value goodwill at three years' purchase following Weighted Average Profit Method on the basis of past five years' profits. Weights assigned to each year would be - years ended 31st March, 2015 - 1, 2016 - 2, 2017 - 3, 2018 - 4 and 2019 - 5. Scrutiny of books of account revealed the following: 1. There was an abnormal loss of Rs. 15,000 during the year ended 31st March, 2015. 2. There was an abnormal gain of Rs. 10,000 during the year ended 31st March, 2017. 3. Closing Stock as on 31st March, 2018 was overvalued by Rs. 15,000. Calculate value of goodwill.

(Weighted Average Profit Method when Past adjustments are Made ) Calculate goodwill of the firm on the basis of three years' purchase of weighted average profit of the last four years. Profits of these four years ended 31st March were: The weights assigned to each year 31st March, are: 2016 - 1, 2017 - 2, 2018 - 3 and 2019 - 4. You are provided with the following additional information: (i) On 31st March, 2018, a major plant repair was undertaken for Rs. 12,000 which was charged to revenue. The said sum is to be capitalised for goodwill calculation subject to adjustment of depreciation of 10% p.a. on Reducing Balance. Method. (ii) The Closing Stock for the year ended 31st March, 2017 was overvalued by Rs. 4,800. (iii) To cover management cost an annual charge of Rs. 9,600 should be made for the purpose of goodwill valuation.

From the following information, determine Gross Profit for the year ended 31st March, 2019:

A, B and C were partners sharing profits and losses in the ratio of 7 : 3 : 2. From 1st April 2015, they decided to share profits and losses in the ratio of 8 : 4 : 3. Goodwill is to be valued at the average of three year's profits preceding the date of change in profit sharing ratio. The profits for the years ending 31st March 2012, 2013, 2014 and 2015 were Rs. 52,000, Rs. 48,000, Rs. 60,000 and Rs. 90,000 respectively. Give the necessary journal entry.

Calculate the value of goodwill on the basis of three year's purchase of the weighted average profits of the last five years. Profits to be weighted 1, 2, 3, 4 and 5, the greatest weightage to be given to last year. Profits of the last five years were: {:("Year ended",," Rs.",),("31st March, 2015 :","Profit","80,000",),("31st March, 2016 :","Profit","1,05,000",("after considering abnormal loss of Rs. 41,500")),("31st March, 2017 :","Loss","20,000",("after considering abnormal gain of Rs. 40,000")),("31st March, 2018 :","Profit","1,80,000",),("31st March, 2019 :","Profit","2,00,00",):} Books of Accounts of the firm revealed that : (i) Closing Stock as on 31st March, 2015 was overvalued by Rs. 40,000. (ii) Reparirs to Machinery Rs. 60,000 were wrongly debited to Machinery Account on 1st July, 2017. Depreciation was chared on Machienery @ 20% p.a. on diminishing balance method.