Waec Model Questions Vol1 2017 Financial Accounting Question 37
Practice objective / multiple choice question 37 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Three partners - A, B and C - run a partnership with profit‑sharing ratios of 3:2:1 respectively. Their capital balances are A: ₦120,000, B: ₦80,000, C: ₦40,000. A new partner D is admitted, bringing in cash of ₦60,000 for a 20% share of the partnership. Goodwill is valued at ₦150,000 and is to be shared among the existing partners in their profit‑sharing ratio. What amount of goodwill is credited to partner B's capital account?
Answer Options
About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 37. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.