Retirement of partner

Accountancy

Please check the highlighted journal entry in the 2nd page, is it write or wrong? Or is it okay to to rearrange those journal like 1) B's capital Dr. 15,000 To L's capital 15,000 2) L's capital Dr. 72,000 To bank 36,000 To B's capital 36,000

illustration 4.pdf

Vijay K

CA Inter

★ 9K+

07-Sep-21 22:30

619

Answers (4)

No,first you have to pass entry to show that L's share has been transferred to B.and then only B will be liable to pay L as goodwill in his(B's) gaining ratio... It is to ascertain who will be liable to pay goodwill to L (I explained the way I understood that question ð?¤?ð??»)

khushi goyal

CA Final

★ 2K+

08-Sep-21 01:55

1st of all I am sorry, there is no B's capital it is N's capital, it's my mistake. And now I understood bro.

Thread Starter

Vijay K

CA Inter

★ 9K+

08-Sep-21 09:15

I mean sister.

Thread Starter

Vijay K

CA Inter

★ 9K+

08-Sep-21 09:15

Thread Starter

Vijay K

I mean sister.

Good to know ð?¤?ð??»ð?¤?ð??»

khushi goyal

CA Final

★ 2K+

08-Sep-21 15:52