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Profits of last three years were Rs. 6,000, Rs. 13,000 and Rs. 8,000. Calculate goodwill for two years of purchase
- a)Rs. 81,000
- b)Rs. 27,000
- c)Rs. 9,000
- d)Rs. 18,000
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Profits of last three years were Rs. 6,000, Rs. 13,000 and Rs. 8,000. ...
Calculation of Goodwill for Two Years of Purchase:
Step 1: Calculate the Average Profit for the last three years
Average Profit = (6000 + 13000 + 8000) / 3
Average Profit = 9000
Step 2: Calculate the Super Profit for the two years of purchase
Super Profit = Average Profit - Normal Profit
Normal Profit = Profit of the year of purchase
Super Profit = 9000 - 8000
Super Profit = 1000
Step 3: Calculate Goodwill using the Super Profit Method
Goodwill = Super Profit x Number of Years of Purchase
Goodwill = 1000 x 2
Goodwill = 2000
Therefore, the Goodwill for two years of purchase is Rs. 18,000.
Step 1: Calculate the Average Profit for the last three years
Average Profit = (6000 + 13000 + 8000) / 3
Average Profit = 9000
Step 2: Calculate the Super Profit for the two years of purchase
Super Profit = Average Profit - Normal Profit
Normal Profit = Profit of the year of purchase
Super Profit = 9000 - 8000
Super Profit = 1000
Step 3: Calculate Goodwill using the Super Profit Method
Goodwill = Super Profit x Number of Years of Purchase
Goodwill = 1000 x 2
Goodwill = 2000
Therefore, the Goodwill for two years of purchase is Rs. 18,000.
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Community Answer
Profits of last three years were Rs. 6,000, Rs. 13,000 and Rs. 8,000. ...
The correct answer is d= 18000.
solution= 6000+13000+8000
=27000
now we divide 27000/3
we get 9000
now we multiply 9000*2
we get the value of Goodwill which is 18000
solution= 6000+13000+8000
=27000
now we divide 27000/3
we get 9000
now we multiply 9000*2
we get the value of Goodwill which is 18000
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Profits of last three years were Rs. 6,000, Rs. 13,000 and Rs. 8,000. Calculate goodwill for two years of purchasea)Rs. 81,000b)Rs. 27,000c)Rs. 9,000d)Rs. 18,000Correct answer is option 'D'. Can you explain this answer?
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Profits of last three years were Rs. 6,000, Rs. 13,000 and Rs. 8,000. Calculate goodwill for two years of purchasea)Rs. 81,000b)Rs. 27,000c)Rs. 9,000d)Rs. 18,000Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Profits of last three years were Rs. 6,000, Rs. 13,000 and Rs. 8,000. Calculate goodwill for two years of purchasea)Rs. 81,000b)Rs. 27,000c)Rs. 9,000d)Rs. 18,000Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Profits of last three years were Rs. 6,000, Rs. 13,000 and Rs. 8,000. Calculate goodwill for two years of purchasea)Rs. 81,000b)Rs. 27,000c)Rs. 9,000d)Rs. 18,000Correct answer is option 'D'. Can you explain this answer?.
Profits of last three years were Rs. 6,000, Rs. 13,000 and Rs. 8,000. Calculate goodwill for two years of purchasea)Rs. 81,000b)Rs. 27,000c)Rs. 9,000d)Rs. 18,000Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Profits of last three years were Rs. 6,000, Rs. 13,000 and Rs. 8,000. Calculate goodwill for two years of purchasea)Rs. 81,000b)Rs. 27,000c)Rs. 9,000d)Rs. 18,000Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Profits of last three years were Rs. 6,000, Rs. 13,000 and Rs. 8,000. Calculate goodwill for two years of purchasea)Rs. 81,000b)Rs. 27,000c)Rs. 9,000d)Rs. 18,000Correct answer is option 'D'. Can you explain this answer?.
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