Match List-I with List-II
| List-I | List-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:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) →
(A) - (II), (B) - (I), (C) - (IV), (D) - (III)