=+W was to bring in 4,000 as his share of the firm's fixed capital, the total of
Question:
=+W was to bring in £4,000 as his share of the firm's fixed capital, the total of which was to remain at £18,000, and to purchase his share of Goodwill, valued at £27,000 for the business as a whole, from the other partners in the proportion in which they previously shared profits. No account for Goodwill was to appear in the firm's books. W duly paid into the business his capital and the purchase price of his share of Goodwill;
at the same time the other partners drew on capital accounts (or paid in)
such sums as would leave their fixed capitals in proportion to their
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: