Calculate the value of goodwill of a firm on the basis of three year’s purchase of average profit of the preceding five years which were as follows:
Calculate the value of goodwill of a firm on the basis of three year’s purchase of average profit of the preceding five years which were as follows:
| Year Ended | Profit (₹) |
| 31st March, 2023 | 8,00,000 |
| 31st March, 2022 | 15,00,000 |
| 31st March, 2021 | 18,00,000 |
| 31st March, 2020 | 4,00,000 (Loss) |
| 31st March, 2019 | 13,00,000 |
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