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Primum for goodwill

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 August 2011 When the partner admit in partnership firm and unable to bring goodwill in cash why the debited partners current aic
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
15 August 2011 because the same will be adjusted partners share of profit in further period, so no need to adjust with capital account
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
15 August 2011 This is done because before the admission of a new partner the existing partners were sharing 100% and on admission of a new prater say of 10% the old partners shall be sharing only 90%
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