[CBSE] Q. 20 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

Solution to Question number 20 of the Admission of Partner chapter 5 of TS Grewal Book 2023-24 Edition CBSE Board?

Pass Journal entries to record the following arrangments in the books of the firm:

a) B and C are partners sharing profits in the ratio of 3 : 2. D is admitted paying a premium (goodwill) of ₹ 2,000 for 1/4th share of the profits, shares of B and C remain as before.

b) B and C are partners sharing profits in the ratio of 3 : 2. D is admitted paying a premium of ₹ 2,100 for 1/4th share of profits which he acquires 1/6th from B and 1/12th from C.

Solution:-

CASE – A

CASE – B

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