The question provides either the value of the goodwill or information so that it can be calculated without too much difficulty (see example (ii)). (ii) â€“ Change of partnership Amit and Binta were in partnership and shared profits and losses at a ratio of 4:3. They agreed to include Chen in the partnership, with profits and losses shared between Amit, Binta and Chen at a ratio of 3:2:1. At the time of the change of company, the balance sheets of the capital and the account were shareholders: the interest on the loan will be a business expense and will therefore have to be debited from the income statement. It was agreed that at the time of Chen`s admission, the partnership should be valued at $164,300. In a partnership, it is the remaining profit that is distributed among the partners in profit and loss sharing. .