Question 0

Osei and Yabo were in partnership sharing profits and losses in the ratio of 2:3. On admitting Takwa, the profit and loss sharing ratio was charged to 1:1:1. Suppose Takwa paid N30 000 for goodwill , this amount would be?

  • A.credited to Takwa's current acount
  • B.debited to goodwill account
  • C.share to all the partners' capital account
  • D.credited to the old partners' capital account
  • E.
Objective

Question details

Exam body
JAMB
Subject
Accounts - Principles of Accounts
Year
2007
Question no.
#0
Type
Objective

More from this paper

See all Accounts - Principles of Accounts 2007 questions