dk goyal class 12 ke Q6 of ch 2 in practical questions me my ans is 360000 and in book its 366000 can anyone explain

In this question, Computer costing Rs 40,000 was charged as revenue expenditure in Profit and loss A/c due to which our profit has reduced for the year ended 31 March 2011.

Therefore, the profit will be : 1,85,000 + 40,000 = 2,25,000

Now, on this computer, depreciation is to be provided at 25%. Depreciation is a revenue expenditure, it will reduce the profit.

Depreciation on Computer = 40,000$\times \frac{25}{100}\times \frac{6}{12}=5,000$ (for six months)

Correct profit for year 2011= 2,25,000 - 5,000 = 2,20,000

Now calculate average profit for 5 years = $\frac{60,000+1,50,000-20,000+2,00,000+2,20,000}{5}=1,22,000$

Goodwill is valued at 3 years purchase of average profit = 1,22,000$\times 3=3,66,000$

Hope this answers your query.

Keep posting for further doubts!!

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