Partnership accounts

Accountancy

Kindly explain (2) of question 1. Thank you.

Aswin Chandar

CA Final

★ 40K+

29-May-22 11:22

497

Answers (6)

Best Answer

Share of goodwill which was brought by new partner that is transferred to old partners capital A/c then half of their shares in goodwill is withdrawn by them.

Jitendra Kumar

CA Final

★ 41K+

29-May-22 11:30

Share of goodwill which was brought by new partner that is transferred to old partners capital A/c then half of their shares in goodwill is withdrawn by them. Pass the necessary journal entries.

shalu Muthukumar

CA Final

★ 1K+

29-May-22 11:54

Half of goodwill withdrawn by whom?

Priyanka R

CA Final

★ 20K+

29-May-22 12:12

By old partners

Jitendra Kumar

CA Final

★ 41K+

29-May-22 12:13

Jitendra Kumar

Share of goodwill which was brought by new partner that is transferred to old partners capital A/c then half of their shares in goodwill is withdrawn by them.

Ok thanks bro, I understood that as half of total goodwill, ie, 12000 should be withdrawn.

Thread Starter

Aswin Chandar

CA Final

★ 40K+

29-May-22 20:34

Thread Starter

Aswin Chandar

Ok thanks bro, I understood that as half of total goodwill, ie, 12000 should be withdrawn.

No bro, old partner bring only 6000. Half of 6000 is 3000. So 3000 is withdrawn by old partner See entry 3..in answer

Jitendra Kumar

CA Final

★ 41K+

29-May-22 20:41