Calculate the amount of goodwill in the following case, on the basis of three years purchase of
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Calculate the amount of goodwill in the following case, on the basis of three years’ purchase of the last four years’ average profits. The profits and losses for the last four years are:
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Year 1995 1996 1997 1998 Amount (in) 20,000 32,000 12,000 (Loss) 24,000
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