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easyMCQCUET Accountancy 2022 30 Aug Shift 22026Accountancy
1 mark

At the time of admission of partner if goodwill exist in the books of account it will be written off among:

  1. A
    Old partners in sacrificing ratio
  2. B
    All the partners in new ratio
  3. C
    New partners in gaining ratio
  4. D
    Old partners in old profit sharing ratio

Solution & Step-by-step Explanation

Existing goodwill appearing in the balance sheet is written off by debiting the old partners' capital accounts in their old profit-sharing ratio.

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At the time of admission of partner if goodwill exist in the books of account it will be written off among:
A
Old partners in sacrificing ratio
B
All the partners in new ratio
C
New partners in gaining ratio
D
Old partners in old profit sharing ratio

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