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  3. Accounts - Principles of Accounts
  4. JAMB 2023
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  ₦ Plant and Machinery 190000 Motor Vehicle 170000 Stock 60000 Current Liabilities 50000 Purchase...

Accounts - Principles of Accounts
JAMB 2023
 

₦

Plant and Machinery

 190000

Motor Vehicle

 170000
Stock 60000

Current Liabilities

 50000

Purchase consideration

 40000

The goodwill is?

  • A. ₦110,000
  • B. ₦30,000
  • C. ₦90,000
  • D. ₦80,000
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Correct Answer: Option B
Explanation

Goodwill = Purchase consideration - value of assets
Total value of assets = 190,000 + 170,000 + 60,000 - (50,000)
= 370,000

Therefore, Goodwill = 400,000 - 370,000
= ₦30,000

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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
Your School's Whatsapp Group - Join Us 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
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us 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