Asha and Babita were partners in a firm. Their capitals were ₹ 15,00,000 and ₹ 10,00,000 respectively. The profits of the last four years were:
| ₹ | |
|---|---|
| 2019 – 20 | 2,50,000 |
| 2020 – 21 | (50,000) |
| 2021 – 22 | 8,00,000 |
| 2022 – 23 | 5,00,000 |
The closing stock for the year 2022 – 23 was undervalued by ₹ 1,00,000. Goodwill is to be valued at two years purchase of the last four years’ average super profits.
Calculate the value of goodwill.
Marks-3, CBSE: 2023-24/Compartment/Set-1/Q-18
Answer :
