Question

if the incoming partner is bringing his share of goodwill in cash the general entries will be ???​

Answer 1

Answer:

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.

hope it is correct.....