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Air Care is the air conditioning prime dealers. They started their business in the year 2013. Since then they are planning to appoint Mr. X as a new partner. This requires valuation of goodwill on the basis of 4 years purchase of average profit of last 5 years, which are: Year Profit Adjustment 2013 156000 Included gain on the sale of land of Rs. 26000 2014 213000 After deducting expense on voluntary retirement payment of Rs. 57000 2015 200000 After the loss on fire of Rs. 80000. 2016 270000 Over Valuation of Closing stock by Rs. 20000. 2017 300000 Including income from dividend of Rs. 20000. |
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Answer» hihogvboo njjvvbkkhcv |
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