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Fundamentals of Accounting

Shared from Partnership Accounts on Dec 26, 2017 12:49 AM

It is given that total assets, including investment of Rs. 100000, are Rs. 500000 and current liabilities are Rs. 100000. 25% p.a. on net capital employed is considered as a fair return. Actual profit is of Rs. 170000. Find goodwill by 2 years purchase of super profit method.

Rs. 90000
Rs. 190000
Rs. 40000
Rs. 180000


Please type your answer before submitting.

How did you arrive at the figure Rs. 1,70,000 for the calculation of super profit?