Question

Is the valued goodwill comes in revaluation account?

Answer 1

Answer:

Existing goodwill is not shown in revaluation account as it would share between partners.

So no increase and decrease arises and revaluation shows increase decrease in assets . Hence it not under revaluation account.

Answer 2

Answer:

Explanation:

Goodwill is an intangible asset and can be impaired. it is not revalued and therefore not shown in the revaluation account