[CBSE] Q. 61 Solution of Admission of Partner TS Grewal Accounts Class 12 (2025-26)

Solution to Question number 61 of the Admission of Partner chapter 5 of TS Grewal Book 2025-26 Edition CBSE Board?

Balance Sheet of Madhu and Vidhi who are sharing profits in the ratio of 2 : 3 as at 31st March, 2016 is given below:

Liabilities	₹	Assets		₹
Madhu’s Capital Vidhi’s Capital General Reserve Bills Payable	5,20,000 3,00,000 30,000 1,50,000	Land and Building Machinery Stock Debtors Less: Provision Bank	3,00,000 10,000	3,00,000 2,80,000 80,000 2,90,000 50,000
	10,00,000			10,00,000

Madhu and Vidhi decided to admit Gayatri as a new partner from 1st April, 2016 and their new profit sharing ratio will be 2 : 3 : 5. Gayatri brought ₹ 4,00,000 as her capital and her share of goodwill premium in cash.

(a) Goodwill of the firm was valued at ₹ 3,00,000.

(b) Land and Building was found undervalued by ₹ 26,000.

(c) Provision for doubtful debts was to be made equal to 5% of the debtors.

(d) There was a claim of ₹ 6,0000 on account of workmen compensation.

Prepare Revaluation Account, Partner’s Capital Accounts and the Balance Sheet of the reconstituted firm.

[Ans.: Gain (Profit) on Revaluation – ₹ 15,000; Capital A/cs: Madhu – ₹ 5,98,000; Vidhi – ₹ 4,17,000; Gayatri – ₹ 4,00,000; Total of Balance Sheet – ₹ 15,71,000.]

Solution:-

Here is the list of all Solutions of Admission of Partners of TS Grewal class 12 CBSE 2025-26.

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1	Question – 1
2	Question – 2
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4	Question – 4
5	Question – 5
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61	Question – 61
62	Question – 62
63	Question – 63
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66	Question – 66
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70	Question – 70

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71	Question – 71
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78	Question – 78