[CBSE] Q. 29 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)
Solution to Question number 29 of the Admission of Partner chapter 5 of TS Grewal Book 2023-24 Edition CBSE Board?
Question – 29
A and B were partners in a firm sharing profits and losses in the ratio of 3 : 2. They admitted C as a new partner for 3/7th share in the profit and the new profit sharing ratio will be 2 : 2 : 3. C brought ₹ 2,00,000 as his capital and ₹ 1,50,000 as premium for goodwill. Half of their share of premium was withdrawn by A and b from the firm. Calculate sacrificing ratio and pass necessary Journal entries for the above transactions in the books of the firm.
Solution:-
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