Ayub and Amit are partners in a firm and they admit Jaspal into partnership w e f 1st April 201...........

Ayub and Amit are partners in a firm and they admit Jaspal into partnership w.e.f. 1st April, 2019. They agreed to value goodwill at 3 years' purchase of Super Profit Method for which they decided to average profit of last 5 years. The profits for the last 5 years were: (3 marks)

Year Ended	Net Profit (Rs)
31st March, 2015	1,50,000
31st March, 2016	1,80,000
31st March, 2017	1,00,000	(Including abnormal loss of Rs 1,00,000)
31st March, 2018	2,60,000	(Including abnormal gain (profit) of Rs 40,000)
31st March, 2019	2,40,000