[CBSE] Q 45, 46 DK Goel Admission of a Partner Solutions Class 12 (2026-27)
Solutions of Question number 45, 46 of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2026-27)
Q. 45. X and Y are partners sharing profits in the ratio of 3 : 1. Z is admitted as a partner for 1/3rd share in future profits. Following journal entry is passed 3 at the time of Z’s admission:
Ascertain the following:
(i) Value of Firm’s Goodwill,
(ii) Sacrifice or Gain by X and Y, and
(iii) New Profit Sharing Ratio of X, Y and Z.
[Ans. (i) Value of Firm’s Goodwill ₹90,000 (ii) Sacrifice by X 5/12; Gain by Y 1/12 (iii) New Profit Sharing Ratio = 1 : 1: 1]
Solution:-
Q. 46. Pass journal entries to record the following transactions on the admission of a new partner:
(i) Land and Building is undervalued by ₹ 2,00,000.
(ii) Stock is overvalued by 20% (Book Value of Stock ₹ 60,000)
(iii) Provision to be made for compensation of ₹ 20,000 to an ex-employee.
(iv) Sundry Debtors appeared in the books at ₹ 1,50,000. They are estimated to produce not more than ₹ 1,30,000.
(v) Creditors include an amount of ₹ 10,000 received as commission.
(vi) A bill of exchange of ₹ 40,000 which was previously discounted with the banker, was dishonoured on 31st March, 2024 but no entry has been passed for it.
(vii) Value of Machinery is to be decreased to ₹ 1,20,000 (Book Value ₹ 2,00,000)
(viii) Value of Machinery is to be decreased by ₹ 1,20,000 (Book Value ₹ 2,00,000)
(ix) Expenses on revaluation amount to ₹ 8,000 have been paid by partner X.
Solution:-
