Section B: Financial Accounting Practice
Question 8
This question required candidates to prepare:
(a) Goodwill Account;
(b) Partners’Capital Account;
(c) Balance Sheet.
Observation
Few candidates attempted the question and the performance was poor. Most of the marks were lost in the preparation of the Goodwill Account and the Partners’ Capital Account. The candidates demonstrated poor knowledge of the topic and inability to post the entries under it appropriately.