GOODWILL

Abigail and Bimbo had been in partnership business sharing profits$/$losses in ratio $2-1$ respectively. As at ${30}^{st}+5$ eptember $2023,$ the statement of financial position of the partnership was as follows:

Statement of Financial Position as at ${30}^m,$ September $2023$

Non$-$Current Assets

Land and buildings

Plant and machinery

Current Assets

$\backslash$table$[[$Inventory$,,450,000],[$Receivables$,300,000,],[$Less Provision for doubtful receivables,$(15,000),],[$Cash at bank,,$\backslash$table$[[285,000],[30,000]]]]$

Partners' Capital and Liabilities

Abigail

Bimbo

Current Liabilities

Payables

$N$

$520,000$

$307,500$

$832,500$

$\backslash$table$[[$Non$-$Current$-$Assets,,$N,N$