Question
5 R, J and D are the partners, sharing profits in the ration 7:5:4. D died on 30th June 2006. It was decided to
5 R, J and D are the partners, sharing profits in the ration 7:5:4. D died on 30th June 2006. It was decided to value the goodwill on the basis of three years purchase of last five years average profits. It the profits are 29,600; 28,700; 28,900; 24,000 and 26,800, what will be D's share of goodwill?
Step by Step Solution
3.38 Rating (157 Votes )
There are 3 Steps involved in it
Step: 1
Old ratio R I and D 754 Calculation of goodwill 1 Avera...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Modern Control Systems
Authors: Richard C. Dorf, Robert H. Bishop
12th edition
136024580, 978-0136024583
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App