Question

why goodwill is written off in retirement of partner​

Answer 1

Answer: The retiring partner is entitled to his/her share of goodwill at the time of retirement because the goodwill is the result of the efforts of all partners including the retiring one in the past. When a partner retires from the firm, the continuing partners will gain in future profits.

Answer 2

Answer:

all partner - Dr

to goodwill

Explanation:

goodwill will write-off in old partners in gaining ratio.