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 is the nature of Interest on Debentures? September 29, 2022 What is the balance of Debenture Redemption Reserve transferred to General Reserve? September 30, 2022 Gold and Silver are partners sharing profits and losses in the ratio of 2: 5. They admit Copper on the condition that he will bring Rs. 14,000 as his share of goodwill to be distributed between Gold and Silver. Copper’s share in the future profits or losses will be 1 / 4th. What will be the new profit-sharing ratio and what amount of goodwill brought in by copper will be received by Gold and Silver? November 2, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
What is the balance of Debenture Redemption Reserve transferred to General Reserve? September 30, 2022
Gold and Silver are partners sharing profits and losses in the ratio of 2: 5. They admit Copper on the condition that he will bring Rs. 14,000 as his share of goodwill to be distributed between Gold and Silver. Copper’s share in the future profits or losses will be 1 / 4th. What will be the new profit-sharing ratio and what amount of goodwill brought in by copper will be received by Gold and Silver? November 2, 2022
