question_answer

Find out the loss for the year 2019-20 from the following information:

Year	2016-17	2017-18	2018-19	2019-20	2020-21
Profit/Loss	60,000	80,000	50,000	Loss ?	70,000

Firm is selling its entire business, so goodwill estimated at 3 years purchase of the average profits of last 5 years. The goodwill is valued at Rs.1,50,000. Loss for the year 2019-20 was :

A) 10,000

B) 20,000

C) 30,000

D) 40,000