Question

Explain the accounting treatment of Goodwill in case of admission of a new partner​

Answer 1

Answer:The incoming partner brings in some amount as his share of Goodwill or Premium to compensate the existing partners for the loss of their share in the future profits of the firm. Thus, at the time of admission of a partner, there are following two ways to treat goodwill.

Mark me as brainliest

Explanation:

Answer 2

Answer:

refer the above given answer , same answer is mine ...It's correct