retirement case

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51 Points Posted on 25 August 2018
if there is increment in goodwill
can we credit the excess amount in revaluation account
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On 25 August 2018 at 14:17 Report
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Coaching and Practice in Tax Audit Law
4429 Points Posted on 25 August 2018

No, you need to either add in Goodwill or debit to capital account

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On 25 August 2018 at 14:17
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If the goodwill is appearing in the balance sheet before retirement, then write it off by debiting capital accounts of all partners.

The value of new goodwill will be adjusted in gaining / sacrificing ratio.

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On 27 August 2018 at 07:41
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51 Points Posted on 27 August 2018
and what if there is not given new PSR ?
what will be my gaining ratio

can i assume my old PSR As a gaining ratio ?
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On 27 August 2018 at 09:33
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Yes. Gaining ratio is old PSR.
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On 27 August 2018 at 09:36

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