#1 Treatment of Goodwill [Concept and Journal Entries] ~ Admission of Partner

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Explained the concept, procedure and need of passing journal entries at the time of admission of a partner as per revised syllabus of CBSE for class 12th.
Student can also watch the following lectures related with the same topic :
1. Treatment of Goodwill - Practical Question (Admission of Partner) :
• #2 Treatment of Goodwi...
2. Revaluation Account ~ Concept, Need & Procedure (Partnership Accounts) :
• Revaluation Account ~ ...
3. New Profit Sharing Ratio (Type-1) Admission of Partner :
• New Profit Sharing Rat...
4. Capital Adjustments though Cash / Bank (Type-2) Admission of a new partner :
• Capital Adjustments th...
5. Capital Adjustment though Current A/c (Type-1) Admission of a New Partner :
• Capital Adjustment wit...
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Yes sir

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Then answer this question .
1+1

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[@dhruvchoudhary7433]

@@DipanshuKumarBMC-B P1. 1 is in N.
P2. If x is in N, then its "successor" x' is in N.
P3. There is no x such that x' = 1.
P4. If x isn't 1, then there is a y in N such that y' = x.
P5. If S is a subset of N, 1 is in S, and the implication
(x in S => x' in S) holds, then S = N.
Then you have to define addition recursively:
Def: Let a and b be in N. If b = 1, then define a + b = a'
(using P1 and P2). If b isn't 1, then let c' = b, with c in N
(using P4), and define a + b = (a + c)'.
Then you have to define 2:
Def: 2 = 1'
2 is in N by P1, P2, and the definition of 2.
Theorem: 1 + 1 = 2
Proof: Use the first part of the definition of + with a = b = 1.
Then 1 + 1 = 1' = 2 Q.E.D.
Note: There is an alternate formulation of the Peano Postulates which
replaces 1 with 0 in P1, P3, P4, and P5. Then you have to change the
definition of addition to this:
Def: Let a and b be in N. If b = 0, then define a + b = a.
If b isn't 0, then let c' = b, with c in N, and define
a + b = (a + c)'.
You also have to define 1 = 0', and 2 = 1'. Then the proof of the
Theorem above is a little different:
Proof: Use the second part of the definition of + first:
1 + 1 = (1 + 0)'
Now use the first part of the definition of + on the sum in
parentheses: 1 + 1 = (1)' = 1' = 2 Q.E.D.

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Sir thank you so much to teach this topic .
Really you makes understand the topic easy and simple

[@deepanshuagarwal3465]

Sir aapne ye doubt clear kiya ki purchased goodwill ko kyo write off. Kerte hai thankyou

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[@blast2686]

But sir said New partner can only receive self generated goodwill. BUT THE New partner was given Rs 40,000 as goodwill(including purchased and self generated goodwill) plz explain

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[@blast2686]

But sir said New partner can only receive self generated goodwill. BUT THE New partner was given Rs 40,000 as goodwill(including purchased and self generated goodwill) plz explain

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[@MdAkram-vj3jr]

Sir plzzz ek video hidden goodwill pe bnaiyena q ki sir usme goodwill of the firm nikaalne k liye new partner k share ko Ulta Kr dete but sir concept nhi smjh Aaya k q Ulta krte hain.

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[@CApreperationsciencestreamgatt]

I have some confusion regarding the topic : 1) after admission goodwill is shared according to their new ratios and goodwill being a form of profit in itself.
If c earns ₹40000 from goodwill and A &B ₹100000 and 60000 respectively. Which is obvious they should do so as to divide among the three but why does c has to pay any compensation at all?
Cause he earned 40000 and now he's giving 40000 so what did he earn in the end? Nothing..

[@rahulkanu9909]

5th entry sir drawing debit ya old partner cap debit

[@PoojaSharma-jk2cz]

sir....goodwill ko written off karte hue partners ko debit kyu karte h debit karke unke account se goodwill ka share chla jaayega sir ye smjh ni aaya please btaiye sir

[@hemanginichaturvedi7126]

jab naya partner goodwill leke aayega tab
1. goodwill a/c dr.
To partner's capital a/c
(being goodwill cr. to partner's capital a/c)
2. if the goodwill already given of the asset side of the balance sheet then
partners capital a/c dr.
To goodwill a/c
(being goodwill written off)
Note: dono entries dekhne ke baad pata chlta hai 1 baar goodwill a/c dr. hua hai aur 1 baar cr. isi tarah partner's capital a/c bhi 1 baar dr. aur 1 baar cr. jo ki goodwill ke effect ko khatam karte hai

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Thank you sir😊😊😊😊😊

[@blast2686]

How did Sir calculate premium of goodwill of Rs 40,000? He got Rs 40,000 by dividing 80,000(self earned goodwill not purchased’ with new partners gain ratio or new ratio?

[@ysccreationz8362]

He got 40000 which is divided into sacrifice ratio 1:1 that is 20000

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