P, Q & R were partners sharing profit in the ratio 4:3:3. W was admitted to the partnership, bringing 1,00,000 capital and Rs. 24,000 as his share of Goodwill. Choose the correct entry for retaining of Goodwill brought in by W. W's share in profit was 41th
Held on 15 Jul 2022 · Verified 13 Jul 2026.
Goodwill A/c Dr 24000
To W's capital A/c 24000
W's capital A/c Dr 24000
To premium for Goodwill A/c 24000
Premium for Goodwill A/c Dr 24000
To P's capital A/c 9600
To Q's Capital A/c 7200
To R's Capital A/c 7200
Premium for Goodwill A/c Dr 24000
To P's Capital A/c 8000
To Q's Capital A/c 8000
To R's Capital A/c 8000
Sign in to track your attempts and accuracy.
Sign in to keep a private note on this question. Nothing you write is ever public.
An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.