Economics · Partnership Accounting
When an incoming partner cannot bring premium for goodwill in cash, the necessary adjustment for goodwill is routed through which of the following accounts?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Profit & Loss Appropriation account
- 2Balance sheet of the new partnership firm
- 3Current or Capital account of the new partner✓
- 4Goodwill account of all partners
Correct answer
Current or Capital account of the new partner
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