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Question : The sum is debited from the___________account when a new partner fails to bring his share of goodwill in cash -

Option 1: Premium A/c

Option 2: Current A/c of the new partner

Option 3: Capital A/cs of the old partners

Option 4: Premium A/c


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 21st Jan, 2024

Correct Answer: Current A/c of the new partner


Solution : We must increase the goodwill amount in the books in cases where a partner does not contribute goodwill. As a result, goodwill will be charged against the new partner's current account, and capital accounts of sacrificial partners will be credited with the appropriate sacrificing ratio.

Hence the correct answer is option 2.

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