When goodwill is not retained in the business; the entries in the new partners’ book will be to debit?

by | Dec 6 | Accounting JAMB | 0 comments

A. good account and credit partners’ capital account
B. partners’ capital account and credit goodwill account
C. cash account and credit goodwill account
D. goodwill account and credit cash account

Correct Answer:

Option B – partners’ capital account and credit goodwill account

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