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Accountancy
Admission of a Partner
From the following information calculate Average Profit of the firm. Years Profits(₹) 2015 50,000 2016 1,00,000 2017 1,30,000 2018 30,000 ( Loss) 2019 2,00,000
₹4,80,000
₹96,000
₹90,000
₹93,000
A. P = (50,000 + 1,00,000 + 1,30,000 + 2,00,000 - 30,000)/ 5 = (4,80,000 - 30,000) /5 = 4,50,000/5 = 90,000