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.

(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.

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

A and B are partners sharing profits and losses in the ratio of 3 : 2. They agree to take C into partnership for 1/3rd share. For this purpose, goodwill is to be valued at two year's purchase of the average profit of last four years which were as follows : {:(,," Rs."),("Year ending on 31st March 2014",,"50,000 (Profit)"),("Year ending on 31st March 2015",,"1,20,000 (Profit)"),("Year ending on 31st March 2016",,"1,80,000 (Profit)"),("Year ending on 31st March 2017",,"70,000 (Loss)"):} On 1st April, 2016 a Motor bike costing Rs. 50,000 was purchased and debited to travelling expenses account, on which depreciation is to be charged @ 20% p.a. calculate the value of goodwill.

A and B are partners sharing profits and losses in the ratio of 3 : 1. It was decided that with effect from 1st April, 2015 the profit sharing ratio will be 5 : 3, Goodwill is to be val ued at 2 year's purchase of average of 3 year's profits. The profits for the years ending 31st March 2013, 2014 and 2015 were Rs. 36,000, Rs. 32,000 and Rs. 40,000 respectively. Pass necessary journal entry for the treatment 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.

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.

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.