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Profits are (₹210000), (₹240000), (₹310000). First year had abnormal profit (₹30000) and second year had abnormal loss (₹20000). Future managerial salary of (₹15000) per year will be paid. What is future maintainable profit?

Answer and explanation

Correct answer: (₹235000)

Adjusted profits are (₹180000), (₹260000), (₹310000) and average is (₹250000). After deducting future salary maintainable profit is (₹235000).

Related tags

GoodwillFuture Maintainable ProfitAbnormal ItemsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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