You are to buy an existing business which has assets valued at buildings 50,000, Motor vehicles 15,000,

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You are to buy an existing business which has assets valued at buildings £50,000, Motor vehicles £15,000, Fixtures £5,000 and Stock £40,000. You are to pay £140,000 for the business. This means that

(A) You are paying £40,000 for Goodwill

(B) Buildings are costing you £30,000 more than their value

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Frank Woods Business Accounting Volume 1

ISBN: 9780273681496

10th Edition

Authors: Frank Wood, Alan Sangster

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Question Posted: Aug 19, 2023 11:32 PM

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You are to buy an existing business which has assets valued at buildings 50,000, Motor vehicles 15,000,

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The correct answer is B Buildings are costing you 30000 more than th...View the full answer

Frank Woods Business Accounting Volume 1

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