Goodwill 17
Aayush and Aarushi are partners sharing profits and losses in the ratio of 3:2. They admitted Naveen into partnership for 1/4th share. Goodwill of the firm was to be valued at three years’ purchase of super profits. Average net profit of the firm was ₹20,000. Capital investment in the business was ₹50,000 and Normal Rate of Return … Read more