[ISC] Q. 47 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

Solution to Question number 47 of the Admission of partner chapter 3 of TS Grewal Book 2023-24 Edition ISC/CISCE Board.

Mandeep and Tarun are partners sharing profits in the ratio of 3 : 2. They admitted Neelu as a new partner for 1/4th share of profits. At the time of admission of Neelu, Debtors and Provision for Doubtful Debts were ₹ 76,000 and ₹ 8,000 respectively. ₹ 6,000 of the debtors proved bad. A provision of 5% is to be created on Sundry Debtors for Doubtful Debts. Pass the necessary Journal entries.

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