ACCOUNTING

JAMB 2012 - Question 40

Account 2012 JAMB Past Questions - Question 40: Ngozi and Musa with a capital of N30,000 each decide to admit Mary into the partnership business with a capital of N20,000 and goodwill N15,000. If the profits and losses are to be shared equally, the journal entries to record goodwill are

Choose the most appropriate option for the gap .
Ngozi and Musa with a capital of N30,000 each decide to admit Mary into the partnership business with a capital of N20,000 and goodwill N15,000. If the profits and losses are to be shared equally, the journal entries to record goodwill are
A:
B:
C:
D:
Examkits App

Examkit's JAMB CBT App

Practice JAMB offline with our Online, PC and Mobile App

  • ✅ 25+ years of past questions (2000 to 2025)
  • ✅ Video solutions and explanation to questions
  • ✅ E-library
  • ✅ Study by topic
  • ✅ And more.

Correct Answer

A

Explanation

Frequently Asked Questions

Examkits is a JAMB CBT practice platform that provides over 20 years of past questions, Post UTME questions, and detailed video solutions to help students prepare for their exams.

You can practice JAMB past questions online, on Android, or on a desktop using the Examkits app. Just register on our website and choose your preferred device.

Yes. Our Android and Windows versions support offline usage. Once downloaded and activated, no internet is required to use most of the features.

Yes, Examkits provides detailed video explanations for all JAMB past questions from 2000 to 2024, helping students understand how to solve each problem.

Examkits offers free practice for some subjects. However, full access requires a one-time affordable activation fee for each version of the app.