Question 18 Chapter 6 of +2- Part

Question 18 Chapter 6 of +2-Part-1

18. (Goodwill Appear in the Books) A, B, and C are partners in a firm. On C’s retirement goodwill has been valued at Rs. 31,000. There is a goodwill account in the books of the firm with a balance of Rs. 31,000. What will be the journal entry to record the goodwill?

The solution of Question 18 Chapter 6 of +2 Part-1: –

As the goodwill has been valued at 31,00 on the date of the retirement of C.
Goodwill is already appearing in the books of the firm at Rs. 31,000, so, no further entry is to be recorded for goodwill on C’s retirement .
Comment if you have any questions.

Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 18 Chapter 6 of +2 Part-1 - USHA Publication 12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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