if there is increment in goodwill
can we credit the excess amount in revaluation account
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retirement case
Replies (4)
No, you need to either add in Goodwill or debit to capital account
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.
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 ?
what will be my gaining ratio
can i assume my old PSR As a gaining ratio ?
Yes. Gaining ratio is old PSR.
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