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The double entry in the books to write off goodwill is

Accounts - Principles of Accounts
WAEC 2007
The double entry in the books to write off goodwill is
  • A. debit Goodwill account, credit capital account
  • B. debit Goodwill account, credit revaluation account
  • C. debit profit and loss appropriation account, credit Goodwill account
  • D. debit Trading account, credit Goodwill account
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Correct Answer: Option C
Explanation
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent