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

  • question_answer
    On 1st April 2021, a firm had assets of Rs.1,00,000 excluding stock of Rs.20,000. Partners capital accounts showed a balance of Rs.60,000. The current liabilities were Rs.10,000 and the balance constituted the reserve. If the normal rate of return is 8%, the Goodwill of the firm is valued at Rs.60,000 at four years of purchase of super profit. Find out the average profit:

    A) 20,000 

    B) 22,500

    C) 23,800

    D) 24,000

    Correct Answer: C

    Solution :

    23,800


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