[CBSE] Q. 38 Solution of Admission of Partner TS Grewal Class 12 (2024-25)

Solution to Question number 38 of the Admission of Partner chapter 5 of TS Grewal Book 2024-25 Edition CBSE Board?

X and Y are partners with capitals of ₹ 50,000 each. They admit Z as a partner for 1/4th share in the profits of the firm. Z brings in ₹ 80,000 as his share of capital. Profit and Loss Account showed a credit balance of ₹ 40,000 as on date of admission of Z.

Give necessary Journal entries to record the goodwill.

[Ans.: Hidden Goodwill – ₹ 1,00,000.]

Solution:-

Here is the list of all Solutions of Admission of Partners of TS Grewal class 12 CBSE 2024-25.

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