Question : P, Q and R  were partners. Their partnership deed provided that they were to share profits thus; P 26 per cent; Q 34 per cent; R  40 per cent; and that if a partner died, his capital should remain in the business for a stated period at a fixed rate of interest, but that the deceased partner’s share should be credited with an amount for Goodwill, based upon one and a half year’s average profits, for the five years prior to his death, but be subject to deduction of 5 per cent from the book debts. R  died, and the profits of the firm for five years were agreed at Rs.20,000; Rs.30,000; Rs. 15,000 (loss); Rs.5,000 (loss); and Rs.45,000 respectively. Book Debts stood at Rs.90,000.
Q. Total Goodwill  is

Option 1: Rs 22,500

Option 2: Rs 18,000

Option 3: Rs 20,000

Option 4: Rs 14500

Question : P , Q and R  were partners. Their partnership deed provided that they were to share profits thus; P 26 per cent; Q 34 per cent; R  40 per cent; and that if a partner died, his capital should remain in the business for a stated period at a fixed rate of interest, but

Question : P, Q and R  were partners. Their partnership deed provided that they were to share profits thus; P 26 per cent; Q 34 per cent; R  40 per cent; and that if a partner died, his capital should remain in the business for a stated period at a fixed rate of interest, but

Question : In the partnership agreement between R Sand T who were sharing profits in the ratio of 5 : 3 : 2, the goodwill was to be valued on the death of any partner on the basis of  such partner’s share of 2 year’s profits calculated on the average of 5 year’s

Question : P, R and S are in partnership sharing profits 4/8, 3/8 and 1/8 respectively. It is provided under the partnership deed that on the death of any partner his share of goodwill is to be valued at one-half of the net profits credited to his account during the last 4 completed

Question : In the partnership agreement between R Sand T who were sharing profits in the ratio of 5 : 3 : 2, the goodwill was to be valued on the death of any partner on the basis of  such partner’s share of 2 year’s profits calculated on the average of 5 year’s