Question

when there is no goodwill account in the books and goodwill is raised that which account will be debited
(a) partner's capital
(b) goodwill
(c) cash
(d) Reserve​

Answer 1

Answer:

partner s capital right answer haa tho

Answer 2

When there is no goodwill account in the books and goodwill is raised that which account will be debited option (a) partner's capital account.

Explanation:

• If goodwill brought into the business by the way of cash, it is credited to the capital account.
• If goodwill brought into the business by the way of a kind or asset, it is credited to the capital account.
• If goodwill cash is withdrawn from the business, it is debited in the capital account.
• Goodwill and capital accounts are the real accounts, hence entries would be as per the debit what comes in and credit what goes out of the business.