[ISC] Q. 49 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

Solution to Question number 49 of the Admission of partner chapter 3 of TS Grewal Book 2023-24 Edition ISC/CISCE Board.

Following was the Balance Sheet of X and Y who were sharing profit 2/3rd and 1/3rd as at 31st March, 2023:

Solution:-

Note:- In the absence of any further information sacrificing ratio is always equal to old profit sharing ratio i.e., 2 : 1.