Hi.
In IPCC in Accounts, when we do capital Adjustment in case of Admission (only), we calculate the balance of credit side of the old Partner's capital Accounts and then that amount is capital for their share (say 2/3)
My question is, do we also add Goodwill adjustment amount also while calculating credit side balance ??
Dear
Abhishek
In case of capital aduestment of partnership firm at the time of admission...we shall add all free reserve,and also goodwill in partners capital a/c.
Regard
vineet kumar
kumarvineet994 @ gmail.com
VNSS & Co
Mumbai
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