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Goodwill is to be valued at three years'...

Goodwill is to be valued at three years' purchase of four years' average profit. Profits for last four years ending on 31st March of the firm were:
2016 - Rs. 12,000, 2017 - Rs. 18,000, 2018 - Rs. 16,000, 2019 - Rs. 14,000.
Calculate ammount of Goodwill.

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Verified by Experts

The correct Answer is:
Goodwill - Rs. 45,000.
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TS GREWAL-GOODWILL: NATURE AND VALUATION-Exercise
  1. Goodwill is to be valued at three years' purchase of four years' avera...

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  2. Profit for the five years ending on 31st March, are as follows: Year...

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  3. Calculate value of goodwill on the basis of three years' purchase of a...

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  4. Calculate the value of firm's goodwill on the basis of one and half ye...

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  5. Purav and Purvi are partners in a firm sharing profits and losses in t...

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  6. Annu, Baby and Chetan are partners in a firm sharing profits and losse...

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  7. Devya purchased Joyti's business with effect from 1st April, 2019. Pro...

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  8. Abhay, Babu and Charu are pratners sharing profits and losses equally....

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  9. Bharat and Bhushan are partners sharing profits in the ration of 3:2 ...

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  10. Bhaskar and Pillal are pratners sharing profits and losses in the rati...

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  11. Sumit pruchased Amit's business on 1st april, 2019, Goodwill was decid...

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  12. Geet and Meet are partners in a firm. They admit Jeet into partnership...

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  13. Profits of a firm for the year ended 31st March for the last five year...

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  14. A and B are partners sharing profits and losses in the ratio of 5 : 3....

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  15. Raman and Daman are partners sharing profits in the ratio of 60 : 40 a...

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  16. Calculate goodwill of a firm on the basis of three Years' purchase of ...

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  17. Dinesh and Mahesh are partners sharing profits and losses in the ratio...

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  18. Mambir and Nimrat are partners and they admit Anahat into partnership....

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  19. Mahesh and auresh are partners and they admit Naresh into partnership....

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  20. Calculate the goodwill of a firm on the basis fo three years' purchase...

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