| Year | ₦ |
| 1991 1992 1993 1994 |
14,000 24,000 10,000 16,000 |
It has been decided to value goodwill at 2 years purchase of average profit for the past 4 years. The value of goodwill is
32,000
16,000
30,000
64,000
Correct answer is B
| Average | profit | = | 14,000 + 24,000 + 10,000 + 16,000
4 |
| = | 64,000
4 |
= | ₦16,000 |
Given: Sales.....................N4000 Light expenses............N2900 Rent.........................
Goodwill is taken into account in partnership when ...
Osa started business with Le 40,000 cash. The accounting entry is debit ...
The objective of the purchase ledger control account is to established the? ...
Use the following to answer the given question BALANCE SHEET: \(\begin{array}{c|c} & N &am...
One of the internal users of accounting information is the ...