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Accountancy > accounting-for-partnership-firms > Goodwill Nature And Valuation
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Question 1
The capital of the firm of Rajat and Karan is ₹ 10,00,000 and the market rate of interest is 15%. Annual salary of Rajat and Karan is ₹ 10,000 and ₹ 30,000 respectively. The profits for the last three years were ₹ 2,40,000, ₹ 2,60,000 and ₹ 2,50,000.
Goodwill of the firm is to be valued on the basis of two years purchase of last three years' average super profits. Calculate the goodwill of the firm.
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