CUET Accountancy - Sometimes the value of Goodwill is not given at the time of admission/retirement of a partner. In such a situation, it has to be inferred from capital and profit sharing ratio. such Goodwill is called | PYQs + Solutions

CUET Accountancy 2022 16 July Shift 2

Partnership

Easy

Written off Goodwill

Hidden Goodwill

Sacrificing Goodwill

Purchased Goodwill

✅ Correct Option: 2

Related questions:

15 May Shift 2

If a new partner does not bring his share of goodwill in cash, the following treatment shall be made

29 May Shift 2

Identify the correct sequence where new partner is to bring proportionate capital.

A. Calculation of Capital Balance of old partners

B. Preparation of Revaluation A/c

C. Determination of Revaluation gain/loss

D. Presentation of Treatment of Goodwill

E. Calculation of Capital to be brought in by the new partner

Choose the correct answer from the options given below:

4 June Shift 2

In case of admission of a partner, the new partner brings Rs. 20,000 only as his share of premium for goodwill out of Rs. 50,000. Journal entry for the adjustment of goodwill will be:

CUET Accountancy 2022 16 July Shift 2 PYQs

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