Question

1 Goodwill exists in the books at < 2,0
(a) Goodwill is not to be raised and written off; and
(b) Goodwill is to be raised and written off.
36. Madan and Gopal are partners sharing profits in the ratio of 3:2. They aomi Scor, X126322
was valued at 35,50,000. Goodwill existed in the books of account at 1,00,000, which the concer
in profits on 1st April, 2020. They also decide to share future profits equally. Goock the
Sooraj is unable to bring his share of goodwill. Pass the necessary Journal entries on admission of sooraj if ... (a) goodwill is not to be raised and written off and (b) goodwill is to be raised and written off​

Answer 1

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