12th Class
Accountancy
Admission of a Partner
Question Bank
MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner
question_answer
X, Y and Z are partners sharing profits in the ratio of 3:2:1. They admit M as a new partner for 1/6th share. At the time of admission of M, firm's balance sheet shows some Goodwill amount which was written off by the partners. Y's Capital Account was debited with Rs. 21,000. What amount of Goodwill was appeared in the Balance Sheet?