In a partnership Firm While doing audit a partner go away from from Firm as this Date his balance is 950000 But he have recived Rs 1500000 to go away from firm New partner entered with a capital of 500000 the old partner Who recived Excess is Goodwill Or what please Reply
4 Replies
CA Anil Kumar .S
(Finance Manager)
(219 Points)
Replied 27 August 2009
yes that is the goodwill ..... the excess payment of rs 550000 shld bring by the remaining partner in gain ratio
CA DEEPAK RAMAN
(CA FInal)
(386 Points)
Replied 08 September 2009
yes the excess amount is goodwill.
Pulkit Agarwal
(CA. Final)
(455 Points)
Replied 08 September 2009
yap the excess amount is goodwill definitely
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