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 Inventory £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
(C) You are paying £30,000 for Goodwill
(D) You have made an arithmetical mistake
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Related Book For 
Frank Woods Business Accounting An Introduction To Financial Accounting
ISBN: 9781292365435
15th Edition
Authors: Alan Sangster, Lewis Gordon, Frank Wood
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