If a partner pays a premium of N500 for 1/5 share of profit; then the total value of goodwill is? By: Sunday|Published on: Dec 9|Categories: Accounting JAMB| 0 comments A. N500 B. N2,000 C. N2,500 D. N3,000 Correct Answer: Option A – N500 Users Also Read These:Share premium is an example of?Interest on capital is 10%, the net profit for the…Interest on drawings is 5%, interest on capital is…The insurance premium to be taken to the profit and…Interest on drawings is 5%, interest on capital is…SEE ALSO When there is no basis of apportionment in an organization; the expenses should be apportioned based on?