Admission – Knowsia

FA – May 2016 – L1 – SA – Q19 – Partnership Accounts

Identifying the journal entries required to remove goodwill upon the admission of a new partner.

Question

State the journal entries required to remove the goodwill recognized on the admission of a new partner in a partnership.
A. Dr Partners’ Accounts Cr Profit or Loss
B. Dr Partners’ Account, Dr Goodwill Account Cr Asset Revaluation Account
C. Dr Partners’ Account Cr Asset Revaluation Account
D. Dr Profit or Loss Account Cr Partners’ Account
E. Dr Partners’ Accounts Cr Goodwill Account

Answer

Find Related Questions by Tags, levels, etc.

Tags: Admission, Goodwill, Journal Entries, Partnership
Level: Level 1

Topic: Partnership Accounts (Including Profit Sharing, Capital and Current Accounts)
Series: MAY 2016

Question Tag: Admission

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

FA – May 2016 – L1 – SA – Q19 – Partnership Accounts

Identifying the journal entries required to remove goodwill upon the admission of a new partner.

FA – May 2016 – L1 – SA – Q19 – Partnership Accounts

Identifying the journal entries required to remove goodwill upon the admission of a new partner.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Admission

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

FA – May 2016 – L1 – SA – Q19 – Partnership Accounts

Identifying the journal entries required to remove goodwill upon the admission of a new partner.

You're reporting an error for "FA – May 2016 – L1 – SA – Q19 – Partnership Accounts"

FA – May 2016 – L1 – SA – Q19 – Partnership Accounts

Identifying the journal entries required to remove goodwill upon the admission of a new partner.

You're reporting an error for "FA – May 2016 – L1 – SA – Q19 – Partnership Accounts"

Our offerings

Contact Info

Customer

Get In Touch

admin