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The accounting entry to record the premium on goodwill is to debit?

Accounts - Principles of Accounts
JAMB 2004
The accounting entry to record the premium on goodwill is to debit?
  • A. cash and credit old partners' capital
  • B. goddwill and credit revaluation
  • C. assets and credit capital
  • D. capital and credit assets
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Correct Answer: Option B
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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
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts