Calculate the goodwill of the company on the basis of 3 years purchase of the average profits based…

Model: Average profits method The profit for the last 5 years of a company were as follows:

2006: Rs.5,00,000

2007: Rs.2,00,000

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2008: Rs.7,00,000

2009: Rs.1,00,000

2010: Rs.5,00,000

Calculate the goodwill of the company on the basis of 3 years purchase of the average profits based on the last 5 years.

 

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