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: