When goodwill is not recorded in the books at all on admission of a partners ?
(a) If paid privately
(b) If brought in cash
(c) If not brought in cash
(d) If brought in Kind
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Answered by
7
Answer:
c) if not brought in cash
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20
Answer:
When goodwill does not appears in the books
By debiting the Goodwill Account and crediting all the partner's (including the retired/deceased partner) capital accounts in the old profit sharing ratio. The full value of goodwill will appear on the balance sheet of the reconstituted firm.
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