When goodwill is not retained in the business, the entries in the new partners’ book will be to debit?
When goodwill is not retained in the business, the entries in the new partners’ book will be to debit?
A good account and credit partners’ capital account
B partners’ capital account and credit goodwill account
C cash account and credit goodwill account
D goodwill account and credit cash account
Answer is B
Follow me on twitter @campusflava for free cash/credit giveaway ( School fees support, Full waec, jamb, neco, app activation etc)
Tag:2006 Jamb Accounting, Jamb, Jamb 2006 accounting questions and answers, Jamb 2006 financial accounting questions and answers, Jamb Accounting, Jamb accounting past questions, Jamb accounting past questions and answers, Jamb Accounts, Jamb financial accounting, Jamb financial accounting questions and answers, Jamb past questions and answers on accounting, Jamb past questions and answers on financial accounting, Joint Admissions and Matriculation Board
