[ISC] Q. 16, 17, 18 Solution of Admission of Partner TS Grewal Accounts Class 12 (2026-27)
Solution to Question number 16, 17, 18 of the Admission of partner chapter 3 of TS Grewal Book 2026-27 Edition ISC/CISCE Board?
Q. 16. Piyush and Deepika are partners in a firm sharing profits and losses in the ratio of 3 : 2. They admit Seema as a partner for 1/5th share. Seema takes her share from Piyush and Deepika in the ratio of 2 : 3. Goodwill of the firm has been valued at ₹ 50,000. Seema paid ₹ 10,000 privately to Piyush and Deepika as her share of goodwill. What will be the Journal entry in the books of the firm?
Solution:-
No Entry is passed for Privately paid premium for goodwill
Q. 17. Emmie and Florence are partners sharing profits and losses in the ratio of 4 : 1. Glen is admitted as a partner for which he pays ₹ 10,000 as premium for goodwill and in future Emmie, Florence and Glen decide to share profits and losses in the ratio of 2 : 1 : 1 respectively.
Pass necessary Journal entries in the books of the firm.
Solution:-
Q. 18. Bharat and Bhushan are partners in a firm sharing profits in the ratio of 2 : 1. On 1st April, 2024, their capitals are ₹ 2,00,000 and ₹ 1,00,000 respectively. On that date, they admitted Smriti as a partner for 1/5th share in profits. New profit sharing ratio of Bharat, Bhushan and Smriti will be 3 : 1 : 1. Smriti brought ₹ 80,000 as her capital and ₹ 30,000 as her share of premium for goodwill.
Pass Journal entries and prepare Capital Accounts of all the Partners.
Solution:-
