![[Show call de Profits method] Proble 7. Goodwill calculation - Average Profits met ole trader. For that purpose, goodwill is](http://img.homeworklib.com/questions/f0b9fc70-7976-11ea-a9e9-4ba9ed46ccc2.png?x-oss-process=image/resize,w_560)
Homework Answers
Average profits of last 5 years (2015,2016,2017,2018,2019)
= Sum of profits of last 5 years / 5 years
= (Dhs 45,000 + Dhs 36,000 + Dhs 46,000 + Dhs 50,000 + Dhs 40,000)/5
= Dhs 217,000 / 5
= Dhs 43,400
Goodwill = Average profits of last 5 years * 3 years purchase of average profits of last 5 years
= Dhs 43,400 * 3 years
= Dhs 130,200
Hence goodwill = Dhs 130,200
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[Show call de Profits method] Proble 7. Goodwill calculation - Average Profits met ole trader. For...
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