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Class 12 Accountancy Partnership Accounts - Basic Concepts GoodwillExpert

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When goodwill account is raised and written off, total credit in old ratio is (₹600000). What will be total debit in new ratio?

Answer and explanation

Correct answer: (₹600000)

Goodwill account is written off by the same amount by which it is raised. Therefore total debit and total credit are equal.

Related tags

Goodwill Raise Write Off Total Debit Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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