0:00
Hello everyone.
00:01
So in this question the following data has been given to us and we need to calculate goodwill.
00:05
So we'll calculate goodwill on the basis of average super profit method as there is no specific method given to us.
00:14
Firstly we'll make working notes.
00:21
So starting with the working notes first we'll calculate total assets excluding investments.
00:35
So first we'll take current assets which is given to us as 8 lakhs.
00:45
We can see over here so it's 8 lakhs next is plant and plant property and equipment so as we can see that here it is given 1 k030 lakhs and it has been find out that actually it was 18 lakh 50 ,000 so we'll find out the difference so we'll take 1 .30 lakhs minus 18 like 50 ,000 and we'll write the amount over here next we'll subtract or less current liabilities from this which is given to us as 35 lakhs less 35 lakhs so with this we'll finalize our closing capital employed which on solving gives us 804 lakhs 50 ,000.
02:30
As gain on sale is profit, so it comes in the current year's profit.
02:35
So we'll take less half of current year's profit, which is given to us that the current year's profit is 1 lakh.
02:55
So, we'll take half of 1 lakhs, that is 50 ,000...