[CBSE] Q. 60 Solution of Admission of Partner TS Grewal Class 12 (2024-25)

Solution to Question number 60 of the Admission of Partner chapter 5 of TS Grewal Book 2024-25 Edition CBSE Board?

A, B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2023 is as follows:

Liabilities	₹	Assets	₹
Capital A/cs: A B C Creditors Bills Payable	60,000 60,000 40,000 30,000 10,000	Land and Building Plant and Machinery Furniture Stock Debtors Bills Receivable Bank	50,000 40,000 30,000 20,000 30,000 20,000 10,000
	2,00,000		2,00,000

D is admitted as a partner on 1st April, 2023. His Capital is to be ₹ 50,000.

Following adjustments are agreed on D’s admission:

(a) Out of the Creditors, ₹ 10,000 is due to D, it will be adjusted against his capital.

(b) Advertisement Expenses of ₹ 1,200 are to be carried forward as Prepaid Expenses.

(c) Expenses debited in the Profit & Loss Account includes ₹ 2,000 paid for B’s personal expenses.

(d) A Bill of Exchange of ₹ 4,000, which was previously discounted with the bank, was dishonoured on 31st March, 2023 but entry was not passed for dishonour.

(e) Provision for Doubtful Debts @ 5% is to be created against Debtors.

(f) Expenses on Revaluation of ₹ 2,100 is paid by A.

Prepare necessary Ledger Accounts and Balance Sheet after D’s admission.

[Ans.: Loss on Revaluation – ₹ 600; Partner’s Capital A/cs: A – ₹ 61,800; B – ₹ 57,800; C – ₹ 39,900; D – ₹ 50,000; Balance Sheet Total – ₹ 2,39,500.]

Solution:-

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

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

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21	Question – 21
22	Question – 22
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24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

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31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

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41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

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51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
55	Question – 55
56	Question – 56
57	Question – 57
58	Question – 58
59	Question – 59
60	Question – 60

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61	Question – 61
62	Question – 62
63	Question – 63
64	Question – 64
65	Question – 65
66	Question – 66
67	Question – 67
68	Question – 68
69	Question – 69
70	Question – 70

S.N	Questions
71	Question – 71
72	Question – 72
73	Question – 73
74	Question – 74
75	Question – 75
76	Question – 76
77	Question – 77
78	Question – 78