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If the new partner is unable to bring his share of goodwill in cash which account is generally debited?

Answer and explanation

Correct answer: New partner's current or capital account

When cash is not brought the new partner's capital or current account is debited. Old partners are credited in the sacrificing ratio.

Related tags

Goodwill Not BroughtJournalAdmissionGoodwill AccountingReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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