Use app×
Ask a Question
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE

A new partner is admitted into a firm; but he is not in a position to bring his share of goodwill.

← Prev Question Next Question →
0 votes
245 views
in Reconstitution of a Partnership Firm – Admission of Partner by (25.6k points)
retagged by

A new partner is admitted into a firm; but he is not in a position to bring his share of goodwill. What the firm will do?

Play Quiz Game >

1 Answer

+1 vote
by (27.3k points)
selected by
 
Best answer

When the new partner is not able to bring his share of goodwill, his account is debited and the sacrificing partners capital account is credited. The following is the journal entry. New Partners’ Capital A/c Dr. To sacrificing Partners’Capital A/c.

← Prev Question Next Question →

Find MCQs & Mock Test

  1. JEE Main 2025 Test Series
  2. NEET Test Series
  3. Class 12 Chapterwise MCQ Test
  4. Class 11 Chapterwise Practice Test
  5. Class 10 Chapterwise MCQ Test
  6. Class 9 Chapterwise MCQ Test
  7. Class 8 Chapterwise MCQ Test
  8. Class 7 Chapterwise MCQ Test

Related questions

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

User Contribution to Sarthaks eConnect
Managed by Sarthaks Digitizing India
...