[CBSE] Q 70, 71 DK Goel Admission of a Partner Solutions Class 12 (2026-27)
Solutions of Question number 70, 71 of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2026-27)
Q. 70. Soma and Navya were partners sharing profits in the ratio of 2: 1. Ananya
was admitted as a partner for th share in profits. Following balances
appeared in the books of the firm on that day.
Debtors – ₹ 1,80,000
Provision for Doubtful Debts – 12,000
Debtors worth 10,000 became bad. It was decided to create 4% provision on doubtful debts.
Pass necessary journal entries.
[Ans. Loss on Revaluation 4,800]
Solution:-
Q. 71. On 31st March 2022, the Balance Sheet of A and B, who were sharing profits in the ratio of 3 : 2 was as follows:
| Liabilities | ₹ | Assets | ₹ |
| Sundry Creditors | 2,50,000 | Cash at Bank | 1,30,000 |
| Investment Fluctuation Reserve | 50,000 | Sundry Debtors 7,50,000 Less: Provision 30,000 | 7,20,000 |
| Capitals: A B | 10,00,000 8,00,000 | Stock | 4,50,000 |
| Investments | 2,00,000 | ||
| Plant and Machinery | 6,00,000 | ||
| 21,00,000 | 21,00,000 |
They decide to admit C as a partner. A sacrifices 2/15 from his share while B sacrifices 1/6th of his share in favour of C.
The following adjustments were agreed upon:
(i) C shall bring ₹ 1,50,000 as his share of goodwill premium and shall bring in proportionate capital.
(ii) Stock was undervalued by 10% and Plant and Machinery was overvalued by 20%.
(iii) Market value of investments is ₹ 2,20,000.
(iv) Debtors the the extent of ₹ 10,000 were unrecorded.
(v) 5% Provision for doubtful debts is required on sundry debtors.
Prepare Revaluation Account, Partner’s Capital Accounts and the Balance Sheet of the reconstituted firm.
[Ans. Loss on Revaluation ₹ 28,000; Capital Accounts A ₹ 11,13,200; B ₹ 8,58,800 and C ₹ 4,93,000; Balance Sheet Total ₹ 27,15,000.]
Solution:-
