When a new partner brings his share of goodwill in cash, the amount is debited to:
A. Cash account
B. Capital accounts of the new partner
C. Goodwill account
D. Capital accounts of the old partner
Answer:A
When a new partner brings his share of goodwill in cash, the amount is debited to:
A. Cash account B. Capital accounts of the new partner C. Goodwill account D. Capital accounts of the old partner