Year Ended | 31st March, 2016 | 31st March, 2017 | 31st March, 2018 | 31st March, 2019 |
Profits (₹) | 80,000 | 1,45,000 | 1,60,000 | 2,00,000 |
Working Notes:
WN: 1 Calculation of Normal Profits
Year |
Profit/(Loss) (₹) |
Adjustment |
Normal Profit (₹) |
31 March, 2016 |
80,000 |
20,000 |
1,00,000 |
31 March, 2017 |
1,45,000 |
(25,000) |
1,20,000 |
31 March, 2018 |
1,60,000 |
(15,000) |
1,45,000 |
31 March, 2019 |
2,00,000 |
- |
2,00,000 |
|
5,65,000 |
WN: 2 Calculation of Average Profit