24. A M/S. XYZ LLC a partnership firm in Salalah plans to admit a new partner in to the partnership firm. The books of accounts of the firm reveal that the Capital Employed of the firm OMR 250,000, Total Tangible Assets of the firm OMR 250,000 and Current Liabilities of the firm OMR 50,000. The firm's Normal Rate of Return @ 12.5 %. The Profit of the firm for the previous years were - 2011 - OMR 17,000, 2012 - OMR 22,000, 2013 - OMR 27,000, 2014 - OMR 32,000, 2015 - OMR 37,000, 2017 - OMR 42,000, 2018 - OMR 47,000, 2019 - OMR 52,000 Compute the value of goodwill on the basis of 4 years purchase under Average Profit and Super Profit Method. Which method of goodwill calculation is beneficial for the firm? Why these two methods showing two different values? (1+1+0.5-2.5 Marks) Q4.B The following are the two alternatives of M/s. AB LLC for admitting a new partner in to the partnership firm. A) If Ameer and Basheer are partners sharing profits in the ratio of 4:3 and wish admit Saleem for 1/5th share of future profits in which he acquires 3/14th from Ameer and 1/14th from Basheer. B) If Ameer and Basheer are partners sharing profits in the ratio of 3:5 and wish admit Saleem as a new partner and he acquires 2/5th of Ameer's share and 1/5 of Basheer's share. Calculate new ratio and sacrificing ratio of the partners and suggest which alternative is good for the existing partners? Comment it. (1+1+0.5 = 2.5 Marks)