another adjustment-
goodwill raised in books at 50000, it is agreed among partners A B & C that C is interested in gw only upto a value of 30000.
???
Osheen Bhattacharya (CA Final) (241 Points)
23 March 2010another adjustment-
goodwill raised in books at 50000, it is agreed among partners A B & C that C is interested in gw only upto a value of 30000.
???
Payal Gupta
(article assistant)
(176 Points)
Replied 05 April 2010
in my openion entry is
A Dr
B Dr
C Dr. 30000
to g/w 50000
( A & B ki ratio ke acc)
g/w write off
plz consult other also
& if i wrong notify me
SACHIN KUMAR GARG
(Final Student)
(105 Points)
Replied 05 April 2010
all partners A/c Dr. 20000
To G/W 20000
(in PSR)
Payal Gupta
(article assistant)
(176 Points)
Replied 06 April 2010
why only 20000 w/o
not the whole 50000
Payal Gupta
(article assistant)
(176 Points)
Replied 11 April 2010
C KO TO 30000 HI MILEGA & BALANCE REMAINING PARTNER'S KE THROUGH W/O HOGA
mahesh
(Will soon be a CA !)
(168 Points)
Replied 11 April 2010
| Originally posted by : Osheen Bhattacharya | ||
 |
another adjustment- goodwill raised in books at 50000, it is agreed among partners A B & C that C is interested in gw only upto a value of 30000. ??? |
 |
two things...
first thing is that there arises no accounting entry if partners decide on the share of the goodwill.
second thing
only when u think of writting off goodwill which is obvious , then right off C with 30,000 and the rest in the gaining/sacrificing ratio.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(without recording)
CAclubindia
