Waec Model Questions Vol1 2021 Financial Accounting Question 34
Practice objective / multiple choice question 34 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Partners A and B share profit in the ratio 3:2. The goodwill of the partnership is valued at ₦120,000. New partner C is admitted with a 1/5 share of future profits. The partners agree that the goodwill will be shared between A and B in their old profit‑sharing ratio. Calculate the amount of goodwill that will be credited to the capital accounts of A, B and C on C's admission.
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About This Question
This is Waec Model Questions Vol1 2021 Financial Accounting Question 34. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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