[CBSE] Q. 33 Solution of Admission of Partner TS Grewal Class 12 (2024-25)

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Solution to Question number 33 of the Admission of Partner chapter 5 of TS Grewal Book 2024-25 Edition CBSE Board?

On the admission of Rao, goodwill of Murty and Shah is valued at ₹ 30,000. Rao is to get 1/4th share of profits. Previously Murty and Shah shared profits in the ratio of 3 : 2. Rao is unable to bring amount of goodwill. Give Journal entries in the books of Murty and Shah when:

a) Goodwill does not exist in the books

b) Goodwill exists in the books at ₹ 10,000.

[Ans.: (a) Dr. Rao’s Current A/c by ₹ 7,5000; Cr. Murty’s Capital A/c by ₹ 4,500 and Shah’s Capital A/c by ₹ 3,000. (b) (I) Dr. Murty’s Capital A/c by ₹ 6,000 and Shah’s Capital A/c by ₹ 4,000; Cr. Goodwill A/c by ₹ 10,000. (ii) Dr. Rao’s Current A/c by ₹ 7,500; Cr. Murty’s Capital A/c by ₹ 4,500 and Shah’s Capital A/c by ₹ 3,000.]

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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