In a three-person partnership, what happens to the goodwill figure in the balance sheet when one of the partners retires?
Say, for example, the two remaining partners pay the outgoing partner £10k.
Partnership Goodwill
2 posts • Page 1 of 1
by deanshepherd on Fri Jan 13, 2006 1:14 am
Nothing.
The £10k payment is not a partnership transaction in a similar way that buying and selling shares has no effect on a company's balance sheet.
Dean Shepherd
dean.shepherd@mmi-online.co.uk
MMI Accountancy
www.mmi-online.co.uk
The £10k payment is not a partnership transaction in a similar way that buying and selling shares has no effect on a company's balance sheet.
Dean Shepherd
dean.shepherd@mmi-online.co.uk
MMI Accountancy
www.mmi-online.co.uk
- deanshepherd
- Posts: 1082
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2 posts • Page 1 of 1
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