Do we need to calculate the value of goodwill in case of dissolution of the firm?

Yes

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Can't say

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None of these

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Solution

The correct option is B
No

No, we don't need to calculate the value of goodwill in case of dissolution of the firm.

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Do we need to revalue goodwill, if a partner retires?

A, B and C were partners in a firm sharing profits in the ratio of 1:2:2. On 1st July, 2014, A retired and the new profit sharing ratio of B and C was 3:2. Goodwill already exist in the books amounted to Rs. 1,00,000. Goodwill of the firm was valued at Rs. 4,00,000. Pass necessary entries for the record of goodwill in the above case. Also calculate the gaining ratio.

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Do we need to calculate the value of goodwill in case of dissolution of the firm?

The correct option is B No No, we don't need to calculate the value of goodwill in case of dissolution of the firm.

The correct option is B
No

No, we don't need to calculate the value of goodwill in case of dissolution of the firm.