Question No 32 of TS Grewal (CBSE)
On 1st April, a firm had assets of Rs. 1,00,000 excluding stocks of Rs. 20,000. The current liabilities were Rs. 10,000 and the balance constituted partners’ capital Accounts. If the normal rate of return is 8%, the Goodwill of the firm is valued of Rs. 60,000 at four years’ purchase of super profit, find the actual profits of the firm.
Solution No 32 of TS Grewal (CBSE)