A. debit Goodwill account, credit capital account
B. debit Goodwill account, credit revaluation account
C. debit profit and loss appropriation account, credit Goodwill account
D. debit Trading account, credit Goodwill account

Correct Answer: Option C

C. debit profit and loss appropriation account, credit Goodwill account

SEE ALSO  Bosun bought goods worth N500 and sold it at a margin of 20% on selling price. For how much did he sell the goods?

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