Question

1
29. (Goodwill is partly paid privately and partly through books) A and B are partners in
3 : 4 ratio. Value of firm's goodwill is 56,000. C is admitted for share. He brings capital
* 20,000. He paid * 3.000 cash for goodwill privately and the balance of his share through
the books of firm. Pass entries.
(Partner Partly hrings the G/W X Y and Z were partners sharing profits and losses as
20​

Answer 1

Answer:

Hidden Goodwill

Hidden GoodwillGoodwill represents the reputation of a firm. Which provides some extra benefits/profits in the future in comparison to other firms. It builds up when the business has continued for some time. This is treated as intangible assets in accounts. It is not a fictitious asset. Hidden Goodwill may be defined as the value of a firm. Its effect is extra profit which firms earn over the normal rate of profit in the future.

Explanation:

Please mark my answer as a brainliest

Answer 2

Answer:

sorry I don't know please search on Google