Consequent upon admission of a new partner in a firm the value of the goodwill is...
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Consequent upon admission of a new partner in a firm the value of the goodwill is valued at Rs.60,000. But there exists a goodwill account in the balance sheet which stood at Rs.48,000 what would be treatment of goodwill at the time of admission of a new partner. If memorandum revaluation method is followed, after admission of a new partner? B с D Rs.12,000 would be debited to all the partner's capital account in their new profit sharing ratio Rs.60,000 would be debited to old partner's capital account in their old profit sharing ratio Rs.48,000 would be debited to all the partner's capital account in their new profit sharing ratio Rs.48,000 would be credited to all the partner's capital account in their new profit sharing ratio Consequent upon admission of a new partner in a firm the value of the goodwill is valued at Rs.60,000. But there exists a goodwill account in the balance sheet which stood at Rs.48,000 what would be treatment of goodwill at the time of admission of a new partner. If memorandum revaluation method is followed, after admission of a new partner? B с D Rs.12,000 would be debited to all the partner's capital account in their new profit sharing ratio Rs.60,000 would be debited to old partner's capital account in their old profit sharing ratio Rs.48,000 would be debited to all the partner's capital account in their new profit sharing ratio Rs.48,000 would be credited to all the partner's capital account in their new profit sharing ratio
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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