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Being Chander brought rs 20000 for his share of goodwill. Which amount should be debited :
  • a)
    Profit A/c
  • b)
    Goodwil A/c
  • c)
    Partner’s account
  • d)
    Bank A/c
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Being Chander brought rs 20000 for his share of goodwill. Which amount...
because he will bring his premium of Goodwill in form of cash or through bank and after that a separate journal entry will be passed for distributing it among partners
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Community Answer
Being Chander brought rs 20000 for his share of goodwill. Which amount...
Its journal is Cash/bank a/c Dr To Premium for goodwill a/c Because goodwill comes in business in cash or bank form
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