Partnership Goodwill sharing

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katiekitkat123
katiekitkat123 Registered Posts: 23 New contributor 🐸
edited March 2016 in AAT Level 3 (Level 6 in Scotland)
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 :)

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  • rakeshsuwal
    rakeshsuwal Registered Posts: 79
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    First goodwill is not a part of profit share, itso capital. 2nd-if you could post the full question I can help further. Cheers
  • katiekitkat123
    katiekitkat123 Registered Posts: 23 New contributor 🐸
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    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.
  • rakeshsuwal
    rakeshsuwal Registered Posts: 79
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    You should be right then. Where is this question from?
  • katiekitkat123
    katiekitkat123 Registered Posts: 23 New contributor 🐸
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    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.
  • rakeshsuwal
    rakeshsuwal Registered Posts: 79
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    =):p

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