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If goodwill already appears in books at ₹30000 then what is generally done before retirement adjustment?

Answer and explanation

Correct answer: It is written off among old partners in old ratio

Existing goodwill belongs to all old partners so it is written off in old ratio. In exams first write off existing goodwill.

Related tags

AccountancyExisting GoodwillOld RatioGoodwill SettlementReconstitution Retirement Or Death Of A PartnerClass 12 Mcq

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