Match the following when capitals are fixed at time of admission of p…

The correct answer is option 3- (A)-(III), (B)-(I), (C)-(II), (D)-(IV).

LIST 1	LIST 2
(A) Capital brought in by new partner	(III) Credit side of Capital A/c
(B) Goodwill share brought by new partner is transferred to sacrificers	(I) Credit side of Current A/c
(C) Goodwill existing in Books	(II) Debit side of Current A/c
(D) Capital withdrawn by Partners	(IV) Debit side of Capital A/c

The following journal entries will be passed when capitals are fixed at time of admission of partner-

(A) Capital brought in by new partner -
         Cash A/c Dr.
             To Partner's Capital A/c

(B) Goodwill share brought by new partner is transferred to sacrificers-
            Premium for goodwill A/c Dr.
                To Partner's Current A/c

(C) Goodwill existing in Books-
            Partner's Current A/c Dr.
                 To Goodwill A/c

(D) Capital withdrawn by Partners-
            Partner's Capital A/c Dr. 
                 To Cash A/c