If a new partner does not bring his share of goodwill in cash, the following treatment shall be made
Held on 15 May 2025 · Verified 13 Jul 2026.
crediting old partners capital A/c in new ratio and debiting new partner capital A/c
crediting old partners capital A/c in sacrificing ratio and debiting new partner current A/c
crediting all partners in the new ratio and debiting premium account
no entry is made when new partner does not bring his share of goodwill in cash
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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.