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

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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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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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