[CBSE] DK Goel Q. 15 Change in Profit Sharing Ratio Solutions Class 12 (2024-25)
Solution of Question 15 of Change in Profit sharing ratio DK Goel Class 12 CBSE (2024-25)
On April 1st 2024, an existing firm had assets of ₹ 5,00,000 including cash of ₹ 20,000. the firm had a General Reserve of ₹ 90,000, partner’s capital accounts showed a balance of ₹ 3,80,000 and creditors amounted to ₹ 30,000. If the normal rate of return is 20% and the goodwill of the firm is valued at ₹ 64,000 at 4 year’s purchase of super profit, find the average profits of the firm.
[Ans. ₹ 1,10,000.]
Solution:-
