CA CPT Model Test Paper 13 with solutions for online practice

Question : 15 of 200

Marks: +1, -0

J and R are equal partners U is admitted as a partner for

1/4

share of profits but is unable to contribute premium for goodwill in cash amounting to Rs. 8,000 and so it is decided to raise a loan A/c in the name of U. Journal entry will be:

U's loan A/c Dr. 8,000
To J 8,000
U's loan A/c Dr. 8,000
To R 8,000
U's Loan A/c Dr. 8,000
To J 4,000
To R 4,000
None of the three

Validate

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