[ISC] Q. 30 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

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Solution to Question number 30 of the Admission of partner chapter 3 of TS Grewal Book 2023-24 Edition ISC/CISCE Board.

Nidhi and Preeti are partners sharing profits and losses in the ratio of 3 : 2. They admit Gurman into the firm for 1/4th share in profits which he gets 1/6th from Nidhi and 1/12th from Preeti. Gurman brings in 60% of his share of firm’s goodwill. Goodwill of the firm is valued at ₹ 1,00,000. Pass necessary Journal entries to record this arrangement.

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