Anupama, Purnima and Ruchika are partners in a business. Balances in their Capital and Current Accounts as on 31st March, 2023 were:
Anupama, Purnima and Ruchika are partners in a business. Balances in their Capital and Current Accounts as on 31st March, 2023 were:
The firm earned an average profit of ₹ 2,40,000. If the normal rate of return is 12%, find the value of goodwill by Capitalisation of Average Profit Method.
| Capital Account (₹) | Current Account (₹) | |
| Anupama | 6,00,000 | 60,000 (Dr.) |
| Purnima | 5,00,000 | 30,000 (Dr.) |
| Ruchika | 5,00,000 | 10,000 (Cr.) |
Anurag Pathak Answered question July 16, 2024
