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RP
Question Practice

When a new partner does not bring in any goodwill but receive a share from existing partners, what journal entry is made?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Reconstitution of a Partnershi...
Question Bank

When a new partner does not br...

Single Answer MCQ
Q-00082138

When a new partner does not bring in any goodwill but receive a share from existing partners, what journal entry is made?

1

Debit Existing Partners' Capital A/c

2

Credit New Partner's Capital A/c

3

Debit Sacrificing Partners' Capital A/c

4

Credit Premium for Goodwill

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Q1.

What is reconstitution of a partnership firm?

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Q2.

What are the different modes of reconstitution of a partnership firm?

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Q3.

When can a new partner be admitted into a partnership firm?

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Q4.

What rights does a newly admitted partner acquire in a partnership firm?

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