t s grewal,section A ,illustration no 44 ,why curremt a/c is prepared ,and why not in other question it is - Accountancy -

Question

t s grewal,section A ,illustration no 44 ,why curremt a/c is
prepared ,and why not in other question it is not made, eddition
2016

Samarth Bhatia · Accepted Answer

Dear Subham Raut,

In this question, new partner i e C is not bringing his share of
goodwill and if new partner doesn't bring his share of goodwill
then we will assume that partner will give his share of goodwill
through his current a/c and not from capital a/c Therefore, Journal
entry will be:
New Partner's Current A/c Dr
To Sacrificing Partner's Capital A/c

Regards

t.s grewal,section A ,illustration no.44 ,why curremt a/c is prepared ,and why not in other question it is not made, eddition 2016