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WAEC Accounting 2015 Paper

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Question : 39

Total: 50

Use the following information to answer the question below

Mr White acquired Mr Black's business for GH¢ 410,000. The total assets were GH¢ 670,000 and liabilities amounted to GH¢ 320,000.

How much was paid for goodwill?

GH¢ 350,000
GH¢ 260,000
GH¢ 90,000
GH¢ 60,000

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