From the following Balance Sheet (as at 31st December), compute the goodwill of the firm XYZ Co.
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From the following Balance Sheet (as at 31st December), compute the goodwill of the firm XYZ Co. Ltd. on the basis of four year’s purchase of the average super profits on a 10% yield basis.
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I. EQUITY AND LIABILITIES (1) Shareholders' Funds: Balance Sheet of XYZ Co. Ltd. as at 31st December, 2015 Note No. (2) Particulars (1) (a) Share Capital -10,000 Equity Shares of 100 each fully paid (b) Reserves and Surplus - General Reserve TOTAL Profit and Loss Account (2) Share Application Money Pending Allotment : (3) Non-current Liabilities: (4) Current Liabilities: (a) Trade Payables - Sundry Creditors 2013 (²) 10,00,000 5,00,000 70,000 3,00,000 18,70,000 2014 (₹) 10,00,000 6,00,000 80,000 4,00,000 20,80,000 2015 (²) (3) 10,00,000 7,00,000 1,20,000 5,00,000 23,20,000
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Related Book For
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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