[CBSE] Q 51, 52 DK Goel Admission of a Partner Solutions Class 12 (2026-27)

Solutions of Question number 51, 52 of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2026-27)

Q. 51. A and B were partners in a firm sharing profits in the ratio of 7 : 3. On 1-3-2024, they admitted C as a new partner for 1/6th share in the profits of the firm. They fixed the new profit sharing ratio as 3 : 2 : 1. The P & L A/c on the date of admission showed a balance of ₹ 20,000 (Cr.) The firm also had a reserve of ₹ 1,50,000. C is to bring ₹ 40,000 as premium for his share of goodwill.

Showing your calculations clearly, pass necessary journal entries to record the above transactions.

[Ans. (i) P & L A/c and Reerve A/c will be debited and old partners will be credited in their old ratio. (ii) A sacrifices 6/30 whereas B gains 1/30 and C gains 5/30. Hence Premium for Goodwill A/c will be debited by ₹ 40,000 and B’s Capital A/c will be debited by ₹ 8,000 and A’s Capital A/c will be credited by ₹ 48,000.]

Solution:-

Q. 52. X and Y are partners in a firm. On 1st April, 2023, they admitted Z as a partner and new profit sharing ratio is agreed at 3 : 2 : 1. Their Balance Sheet disclosed ‘Workmen Compensation Reserve’ amounting to ₹ 1,00,000 on this date. Show the accounting treatment, if

(i) Claim for Workmen Compensation is estimated at ₹ 1,20,000.

(ii) Claim for Workmen Compensation is estimated at ₹ 90,000.

[Ans: In Case (i) Revaluation loss of ₹ 20,000 debited to X and Y in equal proportion. In Case (ii) Capital Accounts of X and Y credited by ₹ 5,000 each.]

Solution:-