JAMB - Accounts Principles Of Accounts (2007 - No. 15)

Osei and Yabo were in partnership sharing profits and losses in the ratio of 2:3. On admitting Takwa, the profit and loss sharing ratio was charged to 1:1:1. Suppose Takwa paid N30 000 for goodwill , this amount would be?
credited to Takwa's current acount
debited to goodwill account
share to all the partners' capital account
credited to the old partners' capital account

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