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P1 C5 ADMISSION OF A PARNER — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C5 ADMISSION OF A PARNER1 Mark
MCQ
Premium for goodwill brought by the partner is recorded on$........$side.
  • A
    debit side of old partners' capital accounts in old profit-loss sharing ratio.
  • B
    credit side of old partners' capital accounts in their old profit-loss Sharing ratio
  • C
    debit side of old partners' capital accounts in their sacrificing ratio
  • ✓
    credit side of old partners' capital accounts in their sacrificing ratio
✓

Answer

Correct option: D.
credit side of old partners' capital accounts in their sacrificing ratio

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