Sarthaks Test
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Goodwill is to be valued at three years’ purchase of four years’ average profit. Profits for last four (ending on 31st March of the firm were: 2013 – Rs.12,000; 2014 – Rs.18,000; 2015 – Rs.16,000; 2016- Rs.14,000. Calculate amount of Goodwill.

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Goodwill = 15,000 x 3 = Rs.45,000

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