Question 0

Use the information below to answer this question.

Dangote acquired Dantata’s business for N350,000. The total asset work were N820,000 and liabilities amounted to N 640,000

The double entry to record the goodwill in the books is debt

  • A.purchase of business account and credit cash account
  • B.goodwill account and credit purchase of business account
  • C.cash account and credit goodwill account
  • D.goodwill account and credit cash account
  • E.
Objective

Question details

Exam body
JAMB
Subject
Accounts - Principles of Accounts
Year
2015
Question no.
#0
Type
Objective

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