[CBSE] Q 55, 56 DK Goel Admission of a Partner Solutions Class 12 (2026-27)
Solutions of Question number 55, 56 of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2026-27)
Q. 55. Charu and Deepika were partners sharing profits in the ratio of 3 : 2. They admitted Esha, as a new partner and the new ratio is agreed at 4 : 3 : 2. On the date of Esha’s admission, the Balance Sheet of Charu and Deepika disclosed General Reserve ₹ 1,20,000; Dr. balance in Profit & Loss Account ₹ 40,000; Investments ₹ 2,00,000 and Investment Fluctuation Reserve ₹ 60,000.
The following was agreed upon Eshas’ admission :
(i) Esha will bring ₹ 3,00,000 as her Capital and her share of goodwill premium in cash.
(ii) Goodwill of the firm be valued ₹ 1,80,000.
(iii) The market value of investments was ₹ 2,30,000.
Pass the necessary journal entries.
Solution:-
Q. 56. A, B and C were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance Sheet as at 31st March, 2024 was as follows:
| Liabilities | ₹ | Assets | ₹ |
| Creditors | 20,000 | Cash & Bank | 30,000 |
| Bills Payable | 5,000 | Debtors | 60,000 |
| General Reserve | 40,000 | Stock | 1,50,000 |
| Workmen Compensation Reserve | 35,000 | Investments (Market Value ₹ 32,000) | 40,000 |
| Investment Fluctuation Reserve | 10,000 | Plant & Machinery | 2,60,000 |
| Capital Accounts: A B C | 2,00,000 1,50,000 1,00,000 | Profit & Loss Account | 20,000 |
| 5,60,000 | 5,60,000 |
They admit D into partnership for 1/4th share on 1st April, 2024. Give necessary journal entries to adjust the accumulated profits and losses.
[Ans. Accumulated profits credited to A, B and C ₹ 30,800; ₹ 30,800 and ₹ 15,400 respectively. Accumulated loss debited to A, B and C ₹ 8,000, ₹ 8,000 and ₹ 4,000 respectively.]
Solution:-
