What is the journal entry when the incoming partner brings money in the business.

Cash A/c Dr.

To Old Partner's Capital A/c

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Old partner's capital A/c Dr.

To Cash

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Incoming Partner's Capital A/c Dr.

To Cash

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Cash A/c Dr.

To Incoming Partner's Capital A/c

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Solution

The correct option is D
Cash A/c Dr.

To Incoming Partner's Capital A/c

The journal entry when the incoming partner brings money in the business :
Bank A/c Dr.
To Incoming Partner's Capital A/c

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What is the journal entry passed when an asset is brought in by new partner?

When the amount of goodwill brought in by incoming partner is withdrawn by existing partners, the entry is going to be

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