[CBSE] Q. 28 Solution of Admission of Partner TS Grewal Class 12 (2024-25)

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Solution to Question number 28 of the Admission of Partner chapter 5 of TS Grewal Book 2024-25 Edition CBSE Board?

Ram and Mohan are partners in a firm sharing profits in the ratio of 3 : 2. on 1st April, they admit Sohan as a partner for 1/4th share in the profits. Sohan contributed following assets towards his capital and for his share of goodwill.

Stock ₹ 60,000; Debtors ₹ 80,000; Land ₹ 1,00,000, Plant and Machinery ₹ 40,000.

On the date of admission of Sohan, the goodwill of the firm was valued at ₹ 6,00,000.

Pass necessary Journal entries in the books of the firm on Sohan’s admission if:

i) Partners do not withdraw the share of goodwill.

ii) Partners withdraw half of their share of goodwill.

[Ans.: (I) Goodwill brought by Sohan – ₹ 1,50,000 and Capital – ₹ 1,30,000; Share in Goodwill; Ram – ₹ 90,000; Mohan – ₹ 60,000. (ii) Goodwill withdrawn; Ram – ₹ 45,000; Mohan – ₹ 30,000.]

Solution:-

Here is the list of all Solutions of Admission of Partners of TS Grewal class 12 CBSE 2024-25.

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76Question – 76
77Question – 77
78Question – 78
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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 and can download the Android & ios app for free lectures.

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