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P1 C6 RETIREMENT/DEATH OF A PARNER — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C6 RETIREMENT/DEATH OF A PARNER1 Mark
MCQ
Goodwill payable to the retiring partner is recorded as$.......$
  • A
    credit side of all partners‘ capital accounts, in their old profit-loss sharing ratio.
  • B
    credit side of all partners' capital accounts, in their gaining ratio.
  • ✓
    debit side of continuing partners' capital accounts, in their gaining ratio.
  • D
    debit side of continuing partners' capital accounts, in their new profit-loss sharing ratio.
✓

Answer

Correct option: C.
debit side of continuing partners' capital accounts, in their gaining ratio.

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