Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Partnership

Question:

The profit for the five years of a firm are as follows:

Year

Profit (Rs.)

2013

4,00,000

2014

3,98,000

2015

4,50,000

2016

4,45,000

2017

5,00,000

Calculate goodwill of the firm on the basis of 4 years purchase of 5 years average profits.

Options:

Rs. 16,20,500

Rs. 17,54,400

Rs. 18,24,800

Rs. 15,12,900

Correct Answer:

Rs. 17,54,400

Explanation:

The correct answer is Option (2) → Rs. 17,54,400