How goodwill is recorded on the retirement or death of a partner? Post category:Accountancy Reading time:1 mins read SOLUTION Remaining Partner s Capital A/cs Dr. (In Gaining Ratio) To Retiring or Deceased Partner’s Capital A/cs(With his share of goodwill) Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostFor which share of goodwill a partner is entitled at the time of his retirement? Next PostName the account which is opened to credit the share of profit of the deceased partner, till the time of his death to his Capital Account. You Might Also Like On dissolution, what entry is passed if a partner takes over an asset of the firm Valued Rs. 10,000 at Rs. 6,000? September 27, 2022 When does the situation of Inflow of Cash arise in the case of Investing activities? October 4, 2022 X and Y are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Z as a partner for 1/4th share. At the time of admission of Z, Stock (Book Value Rs. 1,00,000) is to be reduced by 40% and Furniture (Book Value Rs. 60,000) is to be reduced to 40%. Pass the necessary Journal entries. August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
On dissolution, what entry is passed if a partner takes over an asset of the firm Valued Rs. 10,000 at Rs. 6,000? September 27, 2022
X and Y are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Z as a partner for 1/4th share. At the time of admission of Z, Stock (Book Value Rs. 1,00,000) is to be reduced by 40% and Furniture (Book Value Rs. 60,000) is to be reduced to 40%. Pass the necessary Journal entries. August 1, 2022