If a partner pays a premium of N500 for 1/5 share of profit; then the total value of goodwill is? by Sunday | Dec 9 | Accounting JAMB | 0 comments A. N500 B. N2,000 C. N2,500 D. N3,000 Correct Answer: Option A – N500 Users Also Read These:The accounting entry to record the premium on…The nominal value of share of a public limited…When partners maintain fixed capital accounts, the…Interest on drawings is 5%, interest on capital is…Sule and Ahmad are in partnership sharing profits…