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Q15.Raman and Daman are partners sharing profits in the ratio of 60 : 40 and for the last four years they have been getting annual salaries of 50,000 and 40,000 respectively. The annual accounts have shown the following net profit before charging partners' salaries:
Year ended 31st March, 2017 − 1,40,000; 2018 − 1,01,000 and 2019 − 1,30,000.
On 1st April, 2019, Zeenu is admitted to the partnership for 1/4th share in profit withoutanysalary
. Goodwill is to be valued at four years' purchase of weighted average profit of last three years afterpartners′salaries
; Profits to be weighted as 1 : 2 : 3, the greatest weight being given to the last year. Calculate the value of Goodwill
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