At dissolution, all assets (including goodwill) appearing in the balance sheet are transferred to the debit side of Realisation A/c at book value. If it realises any amount, that is credited; otherwise it becomes a loss on realisation.
The treatment of Goodwill appearing in the balance sheet will be:
Held on 30 Aug 2022 · Verified 13 Jul 2026.
Transferred to Debit of Realisation A/C
Written off among partners in old ratio
Transferred to credit of Realisation A/C
Raised and written off
Sign in to track your attempts and accuracy.
Sign in to keep a private note on this question. Nothing you write is ever public.
An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.