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Clear my choice ostion 36 yet wered ked out of A and B are partners sharing profits and losses in the ratio of 5:3. C
Clear my choice ostion 36 yet wered ked out of A and B are partners sharing profits and losses in the ratio of 5:3. C is admitted as a new partner for 1/5th share. C brings OMR 10,000 as his capital and necessary amount of his share of goodwill in cash. Total goodwill of the firm is OMR 40,000. Goodwill already appears in the balance sheet of A and B is OMR 5,000. What is the suitable journal entry for the amount of goodwill and capital brought by the firm? Option A. Premium a/c Dr.8,000 TO A's Capital a/c 5,000 TO B's capital a/c 3,000. Option B. Cash a/c Dr.18,000 To C's capital a/c 10,000 To premium a/c 8,000. Option C. A's Capital a/c Dr 3,125 B's capital a/c Dr.1,875 To Goodwill a/c 5,000. Option D. No journal entry is passed Wag stion O a. Option B b. None of these are correct O c. Option A, B&C O d. Option A 27
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