Partnership Goodwill sharing

katiekitkat123katiekitkat123 Settling In NicelyPosts: 23Registered
I have this question on partnership goodwill but its telling me my answer is wrong could anyone help.

Partners a & b share profits and losses 3:1 respectively goodwill is valued at £80,000 what is partner a's share of goodwill?

So I divided the £80,000 goodwill by 4 giving me £20,000 then times it by 3 (partner a's profit share) giving me £60,000. When I put this as the answer it say I'm wrong.

Any help on what I'm doing wrong would be great :)

Answers

  • rakeshsuwalrakeshsuwal LondonPosts: 79Registered
    First goodwill is not a part of profit share, itso capital. 2nd-if you could post the full question I can help further. Cheers
  • katiekitkat123katiekitkat123 Settling In Nicely Posts: 23Registered
    This is the full question nothing else is given about the partnership or any other details the question is exactly word for word as written above. You can see why I am having difficulty with this question.
  • rakeshsuwalrakeshsuwal LondonPosts: 79Registered
    You should be right then. Where is this question from?
  • katiekitkat123katiekitkat123 Settling In Nicely Posts: 23Registered
    Thank you for the reply. It was the correct answer after all it turn out that I need to put the decimal point in. So 60000.00 and not £60,000 Aren't computer tests great :/ It was an online knowledge test.
  • rakeshsuwalrakeshsuwal LondonPosts: 79Registered
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