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How to treat goodwill?

A

aaerosuriee

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Partnership Changes chapter seems to be a disaster to me. Can anyone describe in detail about how to treat goodwill, it's revaluation, why and how is it first credited to partners capital account and then debited when a partnership change takes place? Moreover can you solve goodwill and revaluation part of A levels Accounting 9706 Oct/Nov 2006 paper 2 question no 1( frank and Ernest)? Please help me out... : :O:
 
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