Use the following information to answer the question below
Mr White acquired Mr Black's business for GH¢ 410,000. The total assets were GH¢ 670,000 and liabilities amounted to GH¢ 320,000.
The double entry to record the good will in the books is debit
a
Cash account and credit goodwill account
b
Goodwill account and credit purchase of business account
c
Goodwill account and credit cash account
d
Purchase of business account and credit cash account
Explanation
Correct Option
bVideo Explanation
No video available
Post your Contribution
Share:
Discussions (0)
No comments yet
Be the first to comment
