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(Querist)
06 May 2010 The profits for 1999-98 are Rs.2000;for 1999-2000 is Rs.26100;and for 2000-01 is Rs.31200.Closing stock for 1999-2000 and 2000-01 includes the defective items of Rs.2,200 and 6,200 respectively which were considered as having market value nil.wat would be the good will on average profit method?
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Gajendra R. Tiwari

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Gajendra R. Tiwari (Expert)
06 May 2010 Year Net profit defective items in Cl stock Adj net profit

1998-1999 2,000.00 2,000.00

1999-2000 26,100.00 2,200.00 23,900.00

2000-01 31,200.00 4,000.00 27,200.00(6200-2200of the year 1999-2000)

Total Profit 53,100.00

Ave profit 17,700.00
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nimra

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nimra (Querist)
06 May 2010 Thank you very much.
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