05 May 2016
sir i am fully confused about the treatment of goodwill in case new partner doea nt bring it in cash
dk goel suggests that we should debits
new partners current a/c
and credit old partners capital a/c
but t s grehwal suggests that we ahould debit new partners current/capital a/c and credit old partners current /capital a/ c respectively as per fixwd and fluctuating capitals
also why dk goel suggeateg to debit new lartners current ac in case of fluxtuating capitls also
pls help me
06 May 2016
its depend on the condition when partner enter in partnership. if condition that the amount of goodwill credit the capital a/c and no cash introdued by the partner then credit the partner capital a/c if condition that amount of goodwill will be withdraw by old partner then credit to capital a/c / current a/c and then debit the partner when they withdraw the amount . if
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