[CBSE] Q. 34 Solution of Admission of Partner TS Grewal Accounts Class 12 (2025-26)

Solution to Question number 34 of the Admission of Partner chapter 5 of TS Grewal Book 2025-26 Edition CBSE Board?

Rohit and Mohit were partners in a firm sharing profits and losses in the ratio of 3 : 2. Rahul was admitted into partnership for 1/3 share in profits. Goodwill of the firm was valued at ₹ 30,000. Rahul brought ₹ 40,000 as capital and ₹ 5,000 out of his share of goodwill premium in cash. At the time of Rahul’s admission, goodwill was appearing in the books of the firm at ₹ 15,000.

Pass necessary Journal entries for the above transactions in the books of the firm on Rahul’s admission.

[Ans.: (i) Dr. Rohit’s Capital A/c by ₹ 9,000; Mohit’s Capital A/c by ₹ 6,000; Cr. Goodwill A/c by ₹ 15,000. (ii) Dr. Bank A/c by ₹ 45,000; Cr. Rahul’s Capital A/c by ₹ 40,000; Premium for Goodwill A/c by ₹ 5,000. (iii) Dr. Premium for Goodwill A/c by ₹ 5,000 and Rahul’s Current A/c by ₹ 5,000; Cr. Rohit’s Capital A/c by ₹ 6,000 and Mohit’s Capital A/c by ₹ 4,000.]

Solution:-

Here is the list of all Solutions of Admission of Partners of TS Grewal class 12 CBSE 2025-26.

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