FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

I need the answer as soon as possible Please be fast and don't waste my turn please within 5 minutes 3 Goodwill of a firm

I need the answer as soon as possible image text in transcribed

Please be fast and don't waste my turn please within 5 minutes 3 Goodwill of a firm is valued at three year's purchase of the average profits of the last five years. The profits of each year ending 31st March are as under :- 2011 50,000 Profit 2014 60,000 Profit 2012 20,000 Loss 2015 80,000 Profit 2013 10,000 Profit Calculate the value of goodwill

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Active Learning Approach
Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

More Books

Students explore these related Accounting questions

Question

During 2012, Gavin Corp. entered into the following transactions.1. Borrowed $60,000 by issuing bonds.2. Paid $9,000 cash dividend to stockholders.3. Received $13,000 cash from a previously billed...

Answered: 3 weeks ago

Question

1. What is the maximum voltage in a circuit when the instantaneous value of the voltage is 95.4 V at = 62? 2. If the maximum ac voltage on a line is 185 V, what is the instantaneous voltage at =...

Answered: 3 weeks ago

Question

=+d) Based on the two-way ANOVA results, management concludes that neither the workspace design nor the storage/retrieval system impacts process flow time (and that the consultant wasnt worth the...

Answered: 3 weeks ago

Question

DMA, Inc., processes corn into corn starch and corn syrup. The companys productivity and cost standards follow: From every bushel of corn processed, 12 pounds of starch and 6 pounds of syrup should...

Answered: 3 weeks ago

Question

Oberley Products, Inc., has a Receiver Division that manufactures and sells a number of products, including a standard receiver that could be used by another division in the company, the Industrial...

Answered: 3 weeks ago

Question

The Statement of Profit or Loss and additional data of Supermommy Bhd. for the year ended 31 December 2017 is as follows: Statement of Profit or Loss for the Year Ended 31 December 2017 Sales Revenue...

Answered: 3 weeks ago

Question

Net sales, net income, and total assets for Alexander Shipping, Inc., for a five-year period follow: (Click the icon to view the data.) Read the requirements Requirement 1. Calculate trend...

Answered: 3 weeks ago

Question

Which of the following things may NOT a customer representative do? A. Conduct business outside of his or her designated office B. Compare insurance products with clients C. Complete applications D....

Answered: 3 weeks ago

Question

Sokolsky Designs reported the following amounts on its balance sheets at December 31, 2021, 2020, and 2019: (Click the icon to view the data.) Sales and profits are high. Nevertheless, Sokolsky is...

Answered: 3 weeks ago

Question

8) Lant, a cash-basis taxpayer, owns a controlling interest in ABC, Inc. She told the bookkeeper of ABC not to write her dividend check until the beginning of January Year 2, even though all other...

Answered: 3 weeks ago

Question

The generally accepted principle of ethical behaviour is that it begins with: A B C D corporate leaders government leaders religious leaders you and me

Answered: 3 weeks ago

Question

Describe strategic succession planning in todays environment.

Answered: 3 weeks ago

Question

Explain the various elements of a diverse workforce.

Answered: 3 weeks ago

Question

Describe the strategic planning process.

Answered: 3 weeks ago

Previous Question Next Question