12th Class
Accountancy
Goodwill
Question Bank
MCQs - Goodwill : Nature And Valuation
question_answer
The net profits for the last 3 years were: 2018-19 Rs.50,000; 2019-20 Rs.90,000 and 2020-21 Rs.70,000. On 1st April, 2020, furniture costing Rs.30,000 was purchased and wrongly debited as Travelling Expenses Account. Depreciation on furniture was to be charged @ 20% p.a. on straight line method. Adjusted average profit will