Economics · Partnership Accounting
When the incoming partner cannot bring premium for goodwill in cash, the necessary adjustment for goodwill is done through which of the following?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Revaluation account of the firm
- 2Balance sheet of the new partnership firm
- 3Capital/Current account of the new partner✓
- 4Goodwill account of the firm
Correct answer
Capital/Current account of the new partner
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