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

  • question_answer
    X and Y are partners. Following information is available on the admission of Z : Profit on 31.03.2019 = 10,00,000, Profit on 31.03.2020 = 15,00,000, Profit on 31.03.2021 = 20,00,000, On 30.09.2019 a major repair took place for Plant and Machinery amounting to Rs.5,00,000 which was by mistake treated as expense. Depreciation on Plant and Machinery is charged at the rate of 10% p.a. on Original cost. Adjusted total profits:

    A) 45,00,000

    B) 40,75,000

    C) 49,25,000

    D) 50,00,000

    Correct Answer: C

    Solution :

    49,25,000


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