(Super profit Method when Past Adjustments are Made).
Alok and Aakash are partners in M/s Mega Enterprises . They admit Ashish as partner w.e.f. 1st April, 2019. They agreed to value goodwill at 3 years' purchase by Super Profit Method for which they decided to take average fo last 5 years profits. The profits for the last five years were:
`{:("Year Ended",,"Rs.",,),("31st March, 2015",,"2,00,000",,"(Including gain of Rs. 25,000 from sale of fixed asset),"),("31st March, 2016",,"1,70,000",,"(Including abnormal loss of Rs. 50,000),"),("31st March, 2017",,"2,10,000,",,),("31st March, 2018",,"2,30,000,",,),("31st March, 2019",,"2,50,000".,,):}`
Capital employed in the firm is Rs. 15,00,000 and normal rate of return in similar business is `10%` . Calculate value of goodwill.