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Today's challenge: A and B are partner's sharing profit and losses in ratio of 3:1. they admitted C in firm with 1/4th share on 1st April 2019 . for this purpose they decided to calculate goodwill of firm on the basis of average profit of last 3 years. the profits were: 31-03-2016- 40000; 31-03-2017- 60000; 31-03-2018- 85000 and 31-03-2019- 125000. Also calculate the C's share in Goodwill.?
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Today's challenge: A and B are partner's sharing profit and losses in ...
Average profit = 77500
goodwill = 232500
old ratio = 3:1
C's Share :- 232500×1/4 = 58125
Remaining Share :-
Total Share - C's Share
1 - 1/4 = 3/4
A's Share :- 3/4 × 3/4 = 9/16
B's Share :- 3/4 × 1/4 = 3/16
C's Share :- 1/4 × 4/4 = 4/16
Adjustment Of Goodwill ;
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Today's challenge: A and B are partner's sharing profit and losses in ratio of 3:1. they admitted C in firm with 1/4th share on 1st April 2019 . for this purpose they decided to calculate goodwill of firm on the basis of average profit of last 3 years. the profits were: 31-03-2016- 40000; 31-03-2017- 60000; 31-03-2018- 85000 and 31-03-2019- 125000. Also calculate the C's share in Goodwill.?
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Today's challenge: A and B are partner's sharing profit and losses in ratio of 3:1. they admitted C in firm with 1/4th share on 1st April 2019 . for this purpose they decided to calculate goodwill of firm on the basis of average profit of last 3 years. the profits were: 31-03-2016- 40000; 31-03-2017- 60000; 31-03-2018- 85000 and 31-03-2019- 125000. Also calculate the C's share in Goodwill.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Today's challenge: A and B are partner's sharing profit and losses in ratio of 3:1. they admitted C in firm with 1/4th share on 1st April 2019 . for this purpose they decided to calculate goodwill of firm on the basis of average profit of last 3 years. the profits were: 31-03-2016- 40000; 31-03-2017- 60000; 31-03-2018- 85000 and 31-03-2019- 125000. Also calculate the C's share in Goodwill.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Today's challenge: A and B are partner's sharing profit and losses in ratio of 3:1. they admitted C in firm with 1/4th share on 1st April 2019 . for this purpose they decided to calculate goodwill of firm on the basis of average profit of last 3 years. the profits were: 31-03-2016- 40000; 31-03-2017- 60000; 31-03-2018- 85000 and 31-03-2019- 125000. Also calculate the C's share in Goodwill.?.
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