the capital of the partners anu and benu is Rs. 1,00,000 and the market rate of interest is 15%. annual salary to partners is Rs. 6,000 each. the profit for the last three years were Rs. 30,000, 36,000 and 42,000. goodwill is to be valued at 2 years purchase of the last 3 years average super profits. calculate the goodwill of the firm.
goodwill = 3 years average of average super profits
super profit = average profit - normal profit
={(30000+ 36000 +42000 )/3)- 12000/- as salary} - ( 100000 x 15/100)
=24000-15000 = 9000
goodwill=9000 x 2 =18000
super profit = average profit - normal profit
={(30000+ 36000 +42000 )/3)- 12000/- as salary} - ( 100000 x 15/100)
=24000-15000 = 9000
goodwill=9000 x 2 =18000