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12th Class Accountancy Goodwill Question Bank MCQs - Goodwill : Nature And Valuation

  • question_answer
    The net profits for the last 3 years were: 2018-19 Rs.50,000; 2019-20 Rs.90,000 and 2020-21 Rs.70,000. On 1st April, 2020, furniture costing Rs.30,000 was purchased and wrongly debited as Travelling Expenses Account. Depreciation on furniture was to be charged @ 20% p.a. on straight line method. Adjusted average profit will

    A) 62,000

    B) 78,000

    C) 70,000

    D) 80,000

    Correct Answer: B

    Solution :

    78,000


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