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Firm's goodwill is (₹300000). New partner takes (1/6) share and brings only (₹30000) cash goodwill. How much will be debited to new partner's account for the balance goodwill?

Answer and explanation

Correct answer: (₹20000)

New partner's goodwill share is (300000 \times \frac{1}{6}=₹50000). Cash brought is (₹30000), so balance (₹20000) is debited.

Related tags

GoodwillPartly Brought GoodwillAdmissionPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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