A new partner enters a partnership and goodwill is calculated and credited to the original partners. How

Question:

A new partner enters a and is calculated and credited to the original partners. How is the specific amount of assigned to these partners?

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...