accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 October 2010
how will you deal with goodwill when,
1. New partner brings his share of goodwill in cash.
2. New partner does not bring his share of goodwill in cash.
1. New partner brings his share of goodwill in cash.
2. New partner does not bring his share of goodwill in cash.
17 October 2010
For Good will in cash bought in
Cash Account Dr XXXXX
To Good Will XXXX
This will be transferred to old partners in sacrifice ration by crediting to their partner capital account.
If no cash bought
then new partner capital account will be reduced to the extent of " share of good will"by debiting his capital account & crediting existing partners account in their sacrifice ration
Cash Account Dr XXXXX
To Good Will XXXX
This will be transferred to old partners in sacrifice ration by crediting to their partner capital account.
If no cash bought
then new partner capital account will be reduced to the extent of " share of good will"by debiting his capital account & crediting existing partners account in their sacrifice ration
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TAN for Partnership
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- Free lancer income
- What is provisional receipt number for generation of form 16A
- TDS related Query_Liquidated Damages
- LTCG for Assmt year 26-27
- NON- SUBMISSION OF LLP FORM 3
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
