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Accounting
I need the answer as soon as possible
Please 100% correct within few minutes or else skip 5. A and B are partners in a firm sharing profits and losses in the ratio of 2 : 1. They decide to take C into partnership for 1/5th share on 1st April 2011. For this purpose goodwill is to be valued at 80% of the average annual profits of the previous three or four years, whichever is higher. The average profits for the last four years are : Year ending on 31st March 2008 98,000 Year ending on 31st March 2009 80,000 Year ending on 31st March 2010 76,000 Year ending on 31st March 2011 1,20,000 Calculate the value of Goodwill
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