A firm has a policy of valuing goodwill at 2 years purchase of average profit of...
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A firm has a policy of valuing goodwill at 2 years purchase of average profit of last three years. From the following details estimate the goodwill of the firm Profit for the year 2006 Rs.20,000 which includes an insurance claim of Rs.40,000 received Loss for the year 2007 Rs.80,000 includes VRS payment of Rs.110,000 Profit for the year 2008 Rs. 105,000 which includes profit on sale of fixed assets Rs.25,000 A firm has a policy of valuing goodwill at 2 years purchase of average profit of last three years. From the following details estimate the goodwill of the firm Profit for the year 2006 Rs.20,000 which includes an insurance claim of Rs.40,000 received Loss for the year 2007 Rs.80,000 includes VRS payment of Rs.110,000 Profit for the year 2008 Rs. 105,000 which includes profit on sale of fixed assets Rs.25,000
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Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
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