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What else can I help you with?
Need of valuation of goodwill?
NEED FOR VALUATION OF GOODWILL There is a need for the valuation of Goodwill of the Firm in the following cases: 1) If there is a change in the profit sharing ratio of the firm; 2) In case of admission of a new partner; 3) In case of retirement or death of an old partner; 4) In case of Sale / amalgamation of the firm.
How will you deal with goodwill when new partner brings his share of goodwill in cash?
as an income
Who is nominal partner?
A partner with limited liability and contribution.
What happens when a partner leaves a business or dies?
What happens when a partner dies in business depends on the contract. Many people may write a contract that replaces a partner with a family member of the partner.
When revaluation account is opened?
A revaluation account is opened when a partnership or a company undergoes a revaluation of its assets and liabilities, typically during events such as the admission of a new partner, retirement of an existing partner, or a significant change in business structure. This account helps to reflect the current fair value of assets and liabilities on the balance sheet, ensuring that all partners have an accurate understanding of their equity stakes. The revaluation surplus or deficit is transferred to the partners' capital accounts, affecting their profit-sharing ratios.
Need of valuation of goodwill?
NEED FOR VALUATION OF GOODWILL There is a need for the valuation of Goodwill of the Firm in the following cases: 1) If there is a change in the profit sharing ratio of the firm; 2) In case of admission of a new partner; 3) In case of retirement or death of an old partner; 4) In case of Sale / amalgamation of the firm.
How will you deal with goodwill when new partner brings his share of goodwill in cash?
as an income
Is a partner who buys off another partner required to to pay goodwill?
No. It's up to both partners to reach an agreement, but there is no legal or ethical requirement to pay for goodwill.
Cash deposit in bank as goodwill by new partner?
Yes very good
How do you pass journal entries for partner's admission?
[Debit] Cash / bank / goods / assets [Credit] Partner's capital account
Sovled problems of partnership accounts--- admission of a partner?
When you join in a new partner, there are some changes that must be made. It is important to determine how everything will run with the new partner.
How can you influence your partner positvely in a relationship?
be nice and be respectful and maybe they will be influenced into treating you the same
My name is on a car loan and my ex partner has been treating me to damage the vehicle what should I do?
I would contact a lawyer and tell them what is going on and let them handle your ex partner
Bacterial vaginosis should your partner take antibiotics too?
Bacterial vaginosis isn't an infection in the true sense of the word; it's when there is an imbalance of the normal bacteria that should be found in the vagina, and an overgrowth of bacteria that are normally found in low numbers. Your partner can't "catch" it. There is no evidence that treating a partner prevents recurrence in the patient.
What adjustments are required at the time of retirement of a partner?
At the time of retirement of a partner, adjustments must be made to settle their share of assets and liabilities in the partnership, including accounting for any goodwill or revaluation of assets. Any retirement benefits owed to the partner should be calculated and paid out. The partnership agreement should be reviewed to determine the terms of the retirement and how the outgoing partner's interests will be settled.
What is the Journal entry to write off a goodwill?
That really depends, I think more information is required to answer the question. Can you explain what happened the the asset and what kind of asset it is specifically? Yes - a loan made some years ago will not be paid back. How do I record the `loss` in the annual balance?
Can a man pass on b v?
Study after study shows that treating a man for BV doesn't decrease the risk that his female partner will get it.
