Under what circumstances premium for Goodwill paid by the incoming partner is not recorded in the books of account? (Delhi 2014 C) Post category:Accountancy Reading time:1 mins read SOLUTION Premium for Goodwill is not recorded in the books of account when the incoming partner pays it privately to the sacrificing partners. 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 PostWhat is meant by ‘Hidden Goodwill’? (AI 2017 C) Next PostVinay and Naman are partners sharing profits in the ratio of 4: 1. Their capitals were Rs. 90,000 and Rs. 70,000 respectively. They admitted Prateek for 1 / 3 share in the profits. Prateek brought Rs. 1,00,000 as his capital. Calculate the value of firm’s goodwill. (CBSE 2018, 2018 C) You Might Also Like Creditors amounting to Rs. 80,000 are transferred to Realisation Account. What entry will be made on their payment if Rs. 10,000 of the creditors are not to be paid and the remaining creditors agreed to accept 20% less amount? September 27, 2022 Distinguish between shares and debentures on the basis of convertibility (C.B.S. E. Sample Paper, 2018) September 29, 2022 In the absence of partnership deed, what is the ratio in which the profits of a firm are divided among the partners? September 23, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Creditors amounting to Rs. 80,000 are transferred to Realisation Account. What entry will be made on their payment if Rs. 10,000 of the creditors are not to be paid and the remaining creditors agreed to accept 20% less amount? September 27, 2022
Distinguish between shares and debentures on the basis of convertibility (C.B.S. E. Sample Paper, 2018) September 29, 2022
In the absence of partnership deed, what is the ratio in which the profits of a firm are divided among the partners? September 23, 2022