If a partner pays a premium of N500 for 1/5 share of profit, then the…

Accounts - Principles of Accounts JAMB 2001

If a partner pays a premium of N500 for 1/5 share of profit, then the total value of goodwill is?

  • N500 checkmark
  • N2,000
  • N2,500
  • N3,000

The correct answer is: A

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