If the incoming partner brings the amount of goodwill in cash and also a balance exists in Goodwill A/c, then the Goodwill A/c is written off among the old partners:
A. In new profit-sharing ratio
B. In old profit-sharing ratio
C. In sacrificing ratio
D. In gaining ratio
Answer:B
If the incoming partner brings the amount of goodwill in cash and also a balance exists in Goodwill A/c, then the Goodwill A/c is written off among the old partners:
A. In new profit-sharing ratio B. In old profit-sharing ratio C. In sacrificing ratio D. In gaining ratio