(Average Profit Method when Past Adjustments are Made).
Om, Shanti and Namo are partners sharing profits and losses equally. They agree admit Dev for equal share. For this purpose, goodwill is to be valued at four years' purchase of average profit of last five years. Profits for the past five years. Profits for the past five years were:

On 1st April, 2018, 5 cycles costing Rs. 20,000 were purchased and were wrongly debited to Travelling Expenses. Depreciation on cycles was to be charged @ `25%` Calculate value of good will.