[ISC] Q. 57 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)
Solution to Question number 57 of the Admission of partner chapter 3 of TS Grewal Book 2023-24 Edition ISC/CISCE Board.
Anuj, Karan and Arjun are partners sharing profits and losses in the ratio of 5 : 3 : 2. They admit Sahil as partner and share future profits and losses in the ratio of 3 : 3 : 3 : 1, with effect from 1st April, 2023. An extract of their Balance Sheet as at 31st March, 2023 is:
Liabilities | ₹ | Assets | ₹ |
Investments Fluctuation Reserve | 10,000 | Investments (At Cost) | 1,00,000 |
Show the accounting treatment of Investment Fluctuation Reserve under following alternative cases:
Case 1. When there is no other information.
Case 2. When Market value of investments is ₹ 1,00,000.
Case 3: When Market value of investments is ₹ 95,000.
Case 4: When Market value of investments is ₹ 85,000.
Case 5: When Market value of investments is ₹ 1,10,000.
![](https://commerceschool.in/wp-content/uploads/2023/07/q57-1024x403.webp)
Solution:-
![](https://commerceschool.in/wp-content/uploads/2023/07/1-26-1024x280.webp)
![](https://commerceschool.in/wp-content/uploads/2023/07/2-23-1024x275.webp)
![](https://commerceschool.in/wp-content/uploads/2023/07/3-17-1024x301.webp)
![](https://commerceschool.in/wp-content/uploads/2023/07/4-13-1024x439.webp)
![](https://commerceschool.in/wp-content/uploads/2023/07/5-7-1024x576.webp)