Osei and Yabo were in partnership sharing profits and los...
Osei and Yabo were in partnership sharing profits and losses in the ratio of 2:3. On admitting Takwa, the profit and loss sharing ratio was charged to 1:1:1. Suppose Takwa paid N30 000 for goodwill, this amount would be?
Credited to Takwa's current account
Debited to goodwill account
Share to all the partners' capital account
Credited to the old partners' capital account
Correct answer is B
No explanation has been provided for this answer.
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