[CBSE] Q. 39 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

Solution to Question number 39 of the Admission of Partner chapter 5 of TS Grewal Book 2023-24 Edition CBSE Board?

Question – 39

Ankit and Bobby are partners sharing profits in the ratio of 2 : 1 with capital of ₹ 7,50,000 and ₹ 5,00,000. They agree to admit Kartik into partnership who brings ₹ 2,50,000 as capital and ₹ 60,000 for 1/4th share of goodwill. Goodwill already appears in the books at ₹ 45,000.

Pass the necessary Journal entries by raising and writing off goodwill. Also, prepare Partner’s Capital Accounts.

Solution:-

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