Accountancy, asked by shuklayuvraj7007, 9 months ago

explain the accounting treatment of goodwill when new partner does not bring his share of goodwill in cash?

Answers

Answered by deepanshuverma77

Explanation:

Under this method, when the incoming partner brings his share of goodwill in cash, the existing partners share it in the sacrificing ratio. However, when the amount of goodwill is paid privately by the new partner to old partners privately in cash, no entry is passed in the books of the firm.

Previous Question

Next Question

Similar questions

Biology, 4 months ago

(^^)(^^)(^^)(^^)(^^)(^^)(^^)(^^)(^^)(^^)(^^)(^^)(^^)(^^)(^^)(^^) """"""""""""""""""""""""""""""""""""""""...

Math, 4 months ago

an ____ is true only for certain value of its variables...

Computer Science, 4 months ago

How do you view a slide show...

History, 9 months ago

The first general election in India. explain the concept...

Math, 9 months ago