1- why premium on goodwill is charged from the incoming partner ?
2- if a partner is admitted in mid of the year does he is entitled to receive the pre admission profit ?
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Why premium on goodwill is charged
Replies (2)
Quick Summary
Yes, it is charged.
1. yes it is charged
2. if a partner is admitted in mid of the year no not pre admission profit provided agreement provides.
1. yes it is charged
2. if a partner is admitted in mid of the year no not pre admission profit provided agreement provides.
2. so if agreement doesn't provide profit for pre period then does the firm has to prepare the p&l account at the time of admission as to determine the pre and post profit?
1. i am asking what is the logic ,why it is premium on goodwill is collected/charged from incoming partner?
1. i am asking what is the logic ,why it is premium on goodwill is collected/charged from incoming partner?
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