What journal entry will be recorded for writing off the goodwill already existing in Balance Sheet at the time of retirement of a partner? Post category:Accountancy Reading time:1 mins read SOLUTION All Partner’s Capital A/cs (including retiring) Dr. (in old ratio) To Goodwill A/c 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 journal entry’ will be recorded for deceased partner’s share in profit from the closure of last balance sheet till the date of his death? Next PostState two basis lor determination of Profits from the date oflast Balance Sheet to the date of death/retirement. You Might Also Like What are liquid assets? October 1, 2022 Om and Shyam are sharing profits and losses equally. With effect from 1st April, 2022, they agree to share profits in the ratio of 4: 3. Calculate individual partner’s gain or sacrifice due to the change in ratio. October 18, 2022 A and B who shared profits in the ratio of 3: 1 admit C as a partner for l / 5th share in profits, which he acquires equally from the old partners. What will be the new profit-sharing ratio? September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Om and Shyam are sharing profits and losses equally. With effect from 1st April, 2022, they agree to share profits in the ratio of 4: 3. Calculate individual partner’s gain or sacrifice due to the change in ratio. October 18, 2022
A and B who shared profits in the ratio of 3: 1 admit C as a partner for l / 5th share in profits, which he acquires equally from the old partners. What will be the new profit-sharing ratio? September 26, 2022
