Question

Existing goodwill/goodwill already appearing is written off in old ratio

Answer 1

Answer:

If goodwill already appears in the old balance sheet of the firm (if mentioned in the question), then first of all, this goodwill should be written off and should be distributed among all the partners of the firm including the retiring or the deceased partner in their old profit sharing ratio.

Answer 2

If goodwill already appears in the old balance sheet of the firm (if mentioned in the question), then first of all, this goodwill

should be written off and should be distributed among all the partners of the firm including the retiring or the deceased partner

i their old profit sharing ratio.