CUET Accountancy - At the time of admission of a new partner, in the case of fixed capital method, if the sacrificing partner withdraw their amounts of goodwill (in full or in part), the following journal entry will be recorded :- | PYQs + Solutions

CUET Accountancy 2025 3 June Shift 2

Partnership

Medium

common

Sacrificing Partners' Capital A/c Dr.

To Bank A/c

Sacrificing Partners' Current A/c Dr.

To Bank A/c

Gaining Partners' Current A/c Dr.

To Bank A/c

Gaining Partners' Capital A/c Dr.

To Bank A/c

✅ Correct Option: 2

Related questions:

15 May Shift 1

Arrange the following regarding admission procedure in the correct sequence.

(A) Giving share to the new partner.

(B) Treatment of Goodwill

(D) Preparation of Revaluation A/c

(E) Preparing Partner's Capital A/c and Balance Sheet

Choose the correct answer from the options given below:

27 May Shift 1

Arrange in correct sequence at a time of admission of partner-

(A) Adjustments of capital accounts.

(B) Valuation of goodwill

Choose the correct answer from the options given below:

14 May Shift 1

Which Factor does not Affect the Value of Goodwill:

CUET Accountancy 2025 3 June Shift 2 PYQs