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RP
Question Practice

Which journal entry reflects the transfer of goodwill to existing partners' capital accounts when a new partner is admitted?

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

Which journal entry reflects t...

Single Answer MCQ
Q-00082127

Which journal entry reflects the transfer of goodwill to existing partners' capital accounts when a new partner is admitted?

1

Premium for Goodwill A/c Dr. to New Partner's Capital A/c

2

Premium for Goodwill A/c Dr. to Existing Partners' Capital A/c

3

Goodwill A/c Dr. to New Partner's Capital A/c

4

Goodwill A/c Dr. to Existing Partners' Capital A/c

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Continue with nearby questions to strengthen the same chapter concept while you still have the context fresh in mind.

Q1.

What is reconstitution of a partnership firm?

Single Answer MCQ
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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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