[CBSE] Q. 18 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

Solution to Question number 18 of the Admission of Partner chapter 5 of TS Grewal Book 2023-24 Edition CBSE Board?

Gold and Silver are partners sharing profits and losses in the ratio of 2 : 5. They admit copper on the condition that he will bring ₹ 14,000 as his share of goodwill to be distributed between Gold and Silver. Copper’s share in the future profits or losses will be 1/4th. What will be the new profit sharing ratio and what amount of goodwill brought in by Copper will be received by Gold and Silver?

[Ans.: Gold will get ₹ 4,000; Silver will get ₹ 10,000; New Profit-sharing Ratio – 6 : 15 : 7.]

Solution:-

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