If on admission of a new partner to a business they contribute capital to the worth of 25,000 in the way of a mmotor vehicle and then additional 6000 in goodwill that is to be credited to the already exsiting 2 partners how would this be recorded
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If on admission of a new partner to a business they contribute capital to the worth of 25,000 in the way of a mmotor vehicle and then additional 6000 in goodwill that is to be credited to the already exsiting 2 partners how would this be recorded
Sorry , what I meant to say was does it go straight to the exsiting partners capital accunts or in their current account?
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