What is treatment of goodwill in partnership accounts ?
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The existing partners apportion the goodwill among themselves in the sacrificing ratio. The amount is retained in the business as additional working capital. If the sacrificing ratio is not known, then the amount of goodwill is credited to the existing partners' Capital Accounts in the old profit sharing ratio.
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the existing partner apportion the Goodwill among themselves in the sacrificing ratio. The amount is retained in the business as additional working capital. if the sacrificing ratio is not known, then the amount of Goodwill it's credited to the existing partner's capital. accounts in the old profit sharing ratio.
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