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Godwillllll
whats is godwill privately paid ....why its called privately paid...???...i
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When goodWill is paid outside Business, then it's called goodwill is paid privately paid. no entry Is passed for this Transaction.
when goodwill is paid outside business then it's called goodwill is Privately paid.
Private paid Goodwill means when the goodwill is paid to the partner then no journal entries are made for it. Privately paid Goodwill is not recorded in the Books.
does it mean paying under the table??wht does it exactly mean?..So many thngs can be paid privately by the incoming partner during hs admission and all should hv the same treatment(i.e. no journal entry passed),wt's so special wd goodwill?
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