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Calculate the value of goodwill at 2 years, purchase from the following 3 years average profits.

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Calculate the value of goodwill at 2 years, purchase from the following 3 years average profits.

1995 Rs. 27000
1996 Rs. 28,000
1997 Rs. 29,000

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Average profit = \(\frac{27,000+28,000+29,000}{3}\)= 28,000 

Goodwill = 2 yeas purchase of the average profit = 2 × 28,000 = 56,000.

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