why goodwill is written off in retirement of partner
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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.
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Answer:
all partner - Dr
to goodwill
Explanation:
goodwill will write-off in old partners in gaining ratio.
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