A Level Accounting (9706)•9706/13/O/N/18

Explanation
Goodwill adjustment on partner admission Steps:
- Identify old profit-sharing ratio as 1:1 for X and Y; new ratio 1:1:1 with Z.
- Value partnership goodwill at $12,000 total for the firm.
- Credit goodwill to old partners' capitals in old ratio: 6,000 to Y.
- Debit Goodwill account $12,000; no direct debit to partners' capitals for goodwill unless written off in new ratio.
Not enough information: Capital balances and whether goodwill is raised/written off or premium paid by Z are needed to match choice numbers.
Final answer: Not enough information.
Topic: Business acquisition and merger
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