[CBSE] Q 49, 50 DK Goel Admission of a Partner Solutions Class 12 (2026-27)
Solutions of Question number 49, 50 of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2026-27)
Q. 49. A and B were in partnership sharing profits and losses in the ratio of 3 : 1. On 1st April, 2024 they admit C as a partner on the following terms:
(a) That C brings ₹ 1,00,000 as his capital and ₹ 50,000 for goodwill, half of which to be withdrawn by A and B.
(b) That the value of land and buildings to be appreciated by 15 percent and that of stocks and machinery & fixtures to be reduced by 7 and 5 percent respectively.
(c) That provision for doubtful debts be made at 5 percent.
(d) That ₹ 15,000 be provided for an unforeseen liability.
(e) That C to be given 1/5th share and the profit sharing ratio between A and B to remain the same.
(f) That ₹ 11,000 is to be received as commission, hence to be accounted for.
The Balance Sheet of the old partnership as at 31st March, 2024 stood as:
| Liabilities | ₹ | Assets | ₹ |
| Sundry Creditors | 3,50,000 | Cash in Hand | 40,000 |
| Capital Accounts: A B | 4,00,000 2,00,000 | Books Debts | 2,00,000 |
| Stock | 1,80,000 | ||
| Machinery & Fixtures | 2,00,000 | ||
| Land and Building | 3,30,000 | ||
| 9,50,000 | 9,50,000 |
Give necessary Journal entries, ledger accounts and the balance sheet of the newly constituted firm.
[Ans. Gain on revaluation ₹ 12,900; Capital Accounts A ₹ 4,28,425; B ₹ 2,09,475; C ₹ 1,00,000, Cash Balaqnce ₹ 1,65,000 and Balance Sheet total ₹ 11,02,900.]
Solution:-
Note:-
In the absence of any further information the sacrificing ratio is always equal to the old ratio i.e. 3 : 1
The premium for goodwill is credited to the sacrificing partners A and B in sacrificing ratio that is 3 : 1.
Q. 50. Khushi and Sukhi are partners in a firm sharing profits in the ratio of 5 : 4. On April 1, 2024, they admit Muskan as a new partner and the new ratio is agreed at 3 : 2 : 1. On that date there was a balance of ₹ 63,000 in the profit and loss account and a balance of ₹ 45,000 in general reserve. Record the necessary journal entries.
[Ans. Profit & Loss balance and General Reserve will be credited to old partners in old ratio.]
Solution:-
Note:-
Accumulated profit and general reserve is credited to old partners in old ratio i.e. 5 : 4.
Solution:-
