Retirement of Partner - Accounting for Goodwill


A, B and C are partners in a firm sharing profits and losses in ratio of 3:3:2 . On retirement of C, the goodwill was valued at Rs. 80,000. A and B decided to share the future profit equally. Pass adjustment enteries for goodwill , without opening the goodwill Account ?

Subscribe to the Channel and stay updated with the latest Educational Videos.

The time has gone where you need to spend money on tuition. Learn here on the best Educational channel for CBSE and ICSE boards.