Practicing Success
Practicing Success
CUET Preparation Today
| On the admission of new partner, if Goodwill amount is to raised, then where it should be debited? |
Old partner's Capital account Goodwill account Profit and Loss Appropriation account None of the above |
| Goodwill account |
| Goodwill at its full value by debiting the goodwill and crediting the old partners' Capital Account in their old profit sharing ratio. Journal Entry Goodwill A/c Dr . XXX To Partners' Capital A/c XXX ( Being goodwill raised) |
