[ISC] Q. 79 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

Solution to Question number 79 of the Admission of partner chapter 3 of TS Grewal Book 2023-24 Edition ISC/CISCE Board.

Arup and Rama are partners in a firm sharing profits in 2 : 1. They admitted Santanu for 1/4th share in profits on 1st April, 2023, Santanu was to bring ₹ 30,000 as capital and capital of Arup and Rama were to be adjusted in the profit sharing ratio on the basis of santanu’s capital. The Balance Sheet of Arup and Rama as at 31st March, 2023 (before Santanu’s admission) was as follows:

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