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प्रश्न
On 1st April, 2019, an existing firm had assets of ₹ 75,000 including cash of ₹ 5,000. Its creditors amounted to ₹ 5,000 on that date. The firm had a Reserve of ₹ 10,000 while Partners' Capital Accounts showed a balance of ₹ 60,000. If Normal Rate of Return is 20% and goodwill of the firm is valued at ₹ 24,000 at four years' purchase of super profit, find average profit per year of the existing firm.
उत्तर
Average Profit = Normal Profit + Super Profit
Capital Employed = Total Assets - Creditors
= Rs. ( 75,000 - 5,000) = Rs. 70,000
Normal Profits = `("Capital Employed" xx "Normal Rate of Return"/100)`
= Rs. `( 70,000 xx 20/100 )` = Rs. 14,000
Goodwill of the firm = Rs 24,000
Number of years’ purchase = 4
Goodwill = Super Profits x No. of Years of Purchase
Or, 24,000 = Super Profit × 4
Or, Super Profit = `[24,000]/4` = Rs. 6,000.
∴ Average Profit = Normal Profit + Super Profit
= 14,000 + 6,000 = Rs. 20,000.
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संबंधित प्रश्न
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Calculate value of goodwill on the basis of three years' purchase of average profit of the preceding five years which were as follows:
| Year | 2018-19 | 2017-18 | 2016-17 | 2015-16 | 2014-15 |
| Profits (₹) | 8,00,000 | 15,00,000 | 18,00,000 | 4,00,000 (Loss) |
13,00,000 |
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(i) Manu will be given 2/5th share of the profit.
(ii) Goodwill of the firm will be valued at two years' purchase of three years' normal average profit of the firm.
Profits of the previous three years ended 31st March, were:
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| Profits (₹) | 80,000 | 145,000 | 160,000 | 200,000 |
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| Profits (₹) | 1,01,000 | 1,24,000 | 1,00,000 | 1,40,000 |
| Weights | 1 | 2 | 3 | 4 |
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| Liabilities | Amount (₹) |
Assets | Amount (₹) |
|
| Capital A/cs: | Land and Building | 10,00,000 | ||
| Shyam | 5,00,000 | Furniture | 2,00,000 | |
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| Current A/cs: | Sundry Debtors | 5,00,000 | ||
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| Sundry Creditors | 4,00,000 | Cash at Bank | 1,00,000 | |
| Bills Payable | 1,00,000 | |||
| Outstanding Expenses | 60,000 | |||
| 23,00,000 | | 23,00,000 | ||
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| 31st March, 2015 | 1,50,000 | |
| 31st March, 2016 | 1,80,000 | |
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