(Goodwill Existing in the Books at the Time of Admission and Retainet in the books). Raman and C
Channel: Doubtnut
Date: 29/03/2020

(Goodwill Existing in the Books at the Time of Admission and Retainet in the books). Raman and Chaman are partners shairng profits equally. They admit Boman for 1/3rd share Goodwill appeared in the Balance Sheet as at 31st March, 2019, at RS 2,00,000. It was agreed among the partners to carry forward the exsiting goodwill at its book value. Boman brought his share of goodwill by cheque. Pass the Journal entries for goodwill.