[CBSE] Q. 19 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

Solution to Question number 19 of the Admission of Partner chapter 5 of TS Grewal Book 2023-24 Edition CBSE Board?

Vimal and Nirmal are partners in a firm sharing profits and losses in the ratio of 3 : 2. A new partner Kailash is admitted. Vimal gives 1/5th of his share and Nirmal gives 2/5th of his share in favour of Kailash. For the purpose of Kailash’s admission, goodwill of the firm is valued at ₹ 75,000 and Kailash brings his share of goodwill in cash which is retained in the business. Journalise the above transactions.

[Ans.: New Ratio – 12 : 6 : 7; Sacrificing Ratio – 3 : 4; Kailash’s Share of Goodwill – ₹ 21,000 (₹ 75,000 × 7/25); (I) Dr. Bank A/c and Cr. Premium for Goodwill A/c by ₹ 21,000; (ii) Dr. Premium for Goodwill A/c by ₹ 21,000; Cr. Vimal’s Capital A/c by ₹ 9,000 and Nirmal’s Capital A/c by ₹ 12,000.]

Solution:-

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Questions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Questions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

S.N	Questions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

S.N	Questions
51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
55	Question – 55
56	Question – 56
57	Question – 57
58	Question – 58
59	Question – 59
60	Question – 60

S.N	Questions
61	Question – 61
62	Question – 62
63	Question – 63
64	Question – 64
65	Question – 65
66	Question – 66
67	Question – 67
68	Question – 68
69	Question – 69
70	Question – 70

S.N	Questions
71	Question – 71
72	Question – 72
73	Question – 73
74	Question – 74
75	Question – 75
76	Question – 76
77	Question – 77
78	Question – 78
79	Question – 79
80	Question – 80

S.N	Questions
81	Question – 81
82	Question – 82
83	Question – 83
84	Question – 84
85	Question – 85
86	Question – 86