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Question
How goodwill is recorded on the retirement or death of a partner?
Journal Entry
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Solution
| Journal Entry | ||||
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| Remaining Partner's Capital A/c ...Dr. | ||||
| To Retiring Partners Capital A/c | ||||
| (In Gaining Ratio with his Share of Goodwill) | ||||
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