Draw up a goodwill account and the partners capital accounts

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Reference no: EM131201661

Practice questions:

Jarvis and Berry are in partnership and call their business J&B Services. Their capital accounts each show a balance of £120,000. They agree to let Lindsay join if he agrees to pay £200,000.

For this he will receive a one-third interest in the business. Draw up a goodwill account and the partners capital accounts.

Reference no: EM131201661

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