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Question
Goodwill of a firm of A and B is valued at ₹ 30,000. It is appearing in the books at ₹ 12,000. C is admitted for a `1/4` share. What amount he is supposed to bring for goodwill?
Options
₹ 3,000
₹ 4,500
₹ 7,500
₹ 10,500
MCQ
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Solution
₹ 7,500
Explanation:
Calculate the amount C brings for goodwill:
Goodwill Amount = Total Valued Goodwill × C’s Share
Goodwill Amount = `30,000 xx 1/4`
= 7,500
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