The partners are to change their profit ratios as shown: They decide to bring in a goodwill

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The partners are to change their profit ratios as shown:

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They decide to bring in a goodwill amount of £150,000 on the change. The last statement of financial position before any element of goodwill has been introduced was:

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Show the statements of financial position on 1 October 2016 after necessary adjustments have been made if:

(a) Goodwill account was opened.

(b) Goodwill account was not opened.

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Frank Woods Business Accounting Volume 1

ISBN: 9781292084664

13th Edition

Authors: Alan Sangster, Frank Wood

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Question Posted: Mar 28, 2024 04:05 AM

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The partners are to change their profit ratios as shown: They decide to bring in a goodwill

Question:

Abel Burt Cole Dodds Old ratio 1 New ratio 2 4 3 4 23 1

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Frank Woods Business Accounting Volume 1

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