ExamVeda
Login
Home

A and B are partners sharing profits in the ratio of...

This question belongs to Commerce Accounting
Accounting
?

A and B are partners sharing profits in the ratio of 3 : 2. Their books showed goodwill at Rs. 3,000. C is admitted with $${\frac{1}{4}^{{\text{th}}}}$$ share of profits and brings Rs. 10,000 as his capital. But, he is not able to bring in cash for his share of the goodwill of Rs. 3,000. How will you treat this?

Answer & Solution
Correct Answer: Option D
Let's discuss the solution. Join the discussion
Examveda
Question posted by Examveda
Community

Join the Discussion

1 Comment
HARRY
HARRY 3 years ago
Answer should be option c
Keep Learning

Related Questions on Accounting

Accounting provides information on
A. Cost and income for managers B. Company's tax liability for a particular year C. Financial conditions of an institutions D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets B. Fixed assets C. Intangible assets D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets B. Fixed assets C. Intangible assets D. Investments
Patents, Copyrights and Trademarks are
A. Current assets B. Fixed assets C. Intangible assets D. Investments
More Related Questions on Accounting