Geet and Meet are partners in a firm. They admit Jeet into partnership for equal share. It was agreed that goodwill be valued at three years' purchase of average profit of last five years. Profits for the last five years were:

Books of Account of the firm revealed that:
(i) The firm had gain (profit) of Rs. 50,000 from sale of machinery sold in the year enced 31st March, 2016. The gain (profit) was credited in Profit and Loss Account.
(ii) There was an abnormal loss of Rs. 20,000 incurred in the year ended 31st March, 2017 because of a machine becoming obsolete in accident.
(iii) Overhauling cost of Second hand machinery purchased on 1st july, 2017 amounting to Rs. 1,00,000 was debited to Repairs Account. Depreciation is charged @ `20%` p.a on Writtern Down Value Method.
Calculate the value of goodwill.

Calculate value of goodwill on the basis of three years' purchase of average profit of the preceding five years which were as follows:

(Average Profit Method when Past Adjustments are Made). Luve and Kush are partners sharing profits equally. They admit Shubh into partnership for equal share. Goodwill was agreed to be valued at two years' purchase of average profit of last four years. Profits for the last four years were: {:("Year Ended",,"Normal Profit/(Loss) (Rs.)"),("31st March, 2016",," 70,000,"),("31st March, 2017",,"1,00,000,"),("31st March, 2018",," 55,000(Loss),"),("31st March, 2019",,"1,45,000".):} The books of Account of the firm revealed as follows: 1. Firm had abnormal gain of Rs. 10,000 during the year ended 31st March, 2016. 2. Firm incurred abnormal loss of Rs. 20,000 during the year ended 31st March, 2017. 3. Repairs to car amounting to Rs. 50,000 was wrongly debited to vehicles on 1st May, 2017. Depreciation was charged on vehicles @ 10% on Straight Line Method. Calculate the value of Goodwill.

Sumit pruchased Amit's business on 1st april, 2019, Goodwill was decided to be valued at two years' purchase of average normal profit of last four years. The profits for the past four years were: Books of Account revealed that: (i) Abnormal loss of Rs. 20,000 was debited to Profit and Loss Account for the year ended 31st March, 2016. (ii) A fixed asset was sold in the year ended 31st March, 2017 and gain (Profit) of Rs. 25,000 was credited to profit and Loss Account. (iii) In the year ended 31st March, 2018 assets of the firm were not insured due to oversight. Insurance premium not paid was Rs. 15,000. Calculate the vlaue of goodwill.

Varuna and Karuna are partners for equal shares. They admit Lata into partnership for 1/4th share. It was agreed to value goodwill fo the firm at 4 years' purchase fo super profit. Normal rate of return is 15% of the capital employed. Average profit of the firm is Rs. 4,00,000. Balance Sheet of the firm as at 31st March, 2019 was as follows: Calculate the value of goodwill.

Calculate the value of goodwill at 2 year's purchase of the average profits of the last 3 years. The profit for the first year was Rs. 50,000, for second year twice the profit of first year and for the third year on and times the profit of the second year.

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.

Calculate the value of firm's goodwill on the basis of one and half years' purchase of the average profit of the last three years. The profit for first year was Rs. 1,00,000, Profit for the second year was twice the profit of the first year and for the third year profit was one and half times of the profit of the second year.

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.

Mahesh and auresh are partners and they admit Naresh into partnership. They agreed to value goodwill at three years' purchase on Weighted Average Profit Method taking profits for the last five years. They assigned weights from 1 to 5 beginning from the earliest year adn onwards. The profits for the last five years were as follows: Scrutiny of books of account revealed the following: (i) A second-hand machine was purchased for Rs. 5,00,000 on 1st July, 2017 and Rs. 1,00,000 were spent to make it operational. Rs. 1,00,000 were wrongly debited to Repairs Account. Machinery is depreciated @ 20% p.a. on Written Down Value Method. (ii) Closing Stock as on 31st March, 2018 was undervalued by Rs. 50,000. (iii) Remuneration to partners was to be considered as charge against profit and remuneration of Rs. 20,000 p.a. for each partner was considered appropriate. Calculate the value of goodwill.

Abhay, Babu and Charu are pratners sharing profits and losses equally. They agree to admit Daman for equal share of profit. For this purpose, the value of goodwill is to be calculated on the basis of four years' purchase of average profit of last five years. These profits for the year 31st March ,were: On 1st April, 2018, a car costing Rs. 1,00,000 was purchased and debited to Travelling Expenses Account, on which depreciation is to be charged @ 25% . Interest of Rs. 10,000 on Non-trade investments is credit to income for the year ended 31st March, 2018 and 2019. Calculate the value of goodwill after adjusting the above.