The profits for Tech Innovations in the last three years were: 2020: $45,000 . 2021: $55,000 2022: $50,000 Goodwill is to be valued at two years' purchase of three years' average profits.

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter9: Corporate Valuation And Financial Planning
Section: Chapter Questions
Problem 1P: Broussard Skateboard’s sales are expected to increase by 15% from $8 million in 2018 to $9.2 million...
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Not use ai please solve this question general accounting

The profits for Tech Innovations in the last three years were:
2020: $45,000
. 2021: $55,000
2022: $50,000
Goodwill is to be valued at two years' purchase of three years' average
profits.
Transcribed Image Text:The profits for Tech Innovations in the last three years were: 2020: $45,000 . 2021: $55,000 2022: $50,000 Goodwill is to be valued at two years' purchase of three years' average profits.
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