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Treatment of goodwill

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karthik . merugumala

karthik . merugumala (ca) (23 Points)
Replied 30 April 2014

According to recommendation of as 26 good will cannot be recorded in books because no consideration in money or moneys worth is paid for it only purchased good will is recorded hence cash a/c dr To incoming partner capital a/c now distribute it to sacrifying partners incoming partners capital a/c dr To sacrifying partners capital a/c in sacrifying ratio To incoming partners capitala/c
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Parul Sabharwal

Parul Sabharwal (Apprentice) (62 Points)
Replied 06 May 2014

Cash A/s dr..

To premium a/c ( Goodwill brought)



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