[CBSE] Q 25 DK Goel Admission of a Partner Solutions Class 12 (2024-25)
The solution of Question number 25 of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2024-25)
Q. 25. Anju and Manju are partners, sharing profits and losses in the proportion of 7 : 5. They agreed to admit Meenu, their manager, into partnership, who is to get one sixth share in the business. Meenu brings in ₹ 2,00,000 for her capital and ₹ 96,000 for 1/6th share of goodwill which she acquires 1/24th from Anju and 1/8th from Manu. The profit for the first year of the new partnership amount to ₹ 4,80,000.
Make the necessary Journal entries in connection with Meenu’s admission and divide the profit between the partners.
[Ans. New profit sharing Ratio 13 : 7 : 4; Profit : Anju ₹ 2,60,000; Manu ₹ 1,40,000 and Meenu ₹ 80,000.]
Solution:-
