[ISC] Q. 46, 47, 48 Solution of Admission of Partner TS Grewal Accounts Class 12 (2026-27)
Solution to Question number 46, 47, 48 of the Admission of partner chapter 3 of TS Grewal Book 2026-27 Edition ISC/CISCE Board?
Q. 46. Atul and Abhay are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Akash as a new partner for 1/4th share. At the time of admission of Akash, Stock (Book Value ₹ 1,00,000) is to be reduced by 40% and Furniture (Books Value ₹ 60,000) is to be reduced to 40%. Pass the necessary Journal entries.
Solution:-
Q. 47. Gurman and Sharan are partners sharing profits in the ratio of 3 : 2. They admitted Preet as a partner for 1/4th share of profits. At the time of admission of Preet, Investments appeared at ₹ 80,000. Half of the investments to be taken by Gurm and Sharan in their profit sharing ratio at book value. Remaining investments were valued at ₹ 50,000. Pass the necessary Journal entries.
Solution:-
Q. 48. At the time of admission of partner Dass, the assets and liabilities of Karam and Dharam were revalued and following changes were made:
(i) Provision for Doubtful Debts @ 10% was made on Sundry Debtors (Sundry Debtors ₹ 50,000).
(ii) Creditors were written back ₹ 5,000.
(iii) Building was appreciated by 20% (Book Value of Building ₹ 2,00,000).
(iv) Unrecorded investments were of ₹ 15,000.
(v) A liability of ₹ 2,000 was provided for an outstanding bill for repairs.
(vi) Unrecorded Liability towards suppliers was ₹ 3,000.
Pass necessary journal entries and prepare Revaluation Account of the firm after Dass’s admission.
Solution:-
