Question

after a dissolution of a firm goodwill account is closed by transfer to​

Answer 1

Answer:

All the assets of the firm which can be converted into cash are transferred to Realisation Account. If goodwill is already appearing in the Balance Sheet, it is treated like any other asset, and is transferred to the Realisation Account at the value given in the Balance sheet. Following entry is passed for it:

Realisation A/c Dr.

To Goodwill A/c

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