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Home Questions NZ0OUF0LW7
Target Exam

CUET

Subject

Accountancy Part A

Chapter

Admission of a Partner

Question:

Match List-I with List-II

List-IList-II
(A) Goodwill already exist in the books(I) New Partner’s Current A/c    Dr.
    To Sacrificing Partners’ Capital A/c
(B) New partner does not bring his share of goodwill(II) Old Partners’ Capital A/c    Dr.
    To Goodwill A/c
(C) New partner brings his share of goodwill and decided to retain goodwill in the business(III) No Entry
(D) Goodwill is paid privately(IV) Premium for Goodwill A/c    Dr.
    To Sacrificing Partners’ Capital A/c

Choose the correct answer from the options given below:

Options:

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Correct Answer:

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

Explanation:

The correct answer is Option (3) → 

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

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