[CBSE] Q. 39 Solution of Admission of Partner TS Grewal Class 12 (2024-25)

Solution to Question number 39 of the Admission of Partner chapter 5 of TS Grewal Book 2024-25 Edition CBSE Board?

Asin and Shreyas are paratners in a firm. They admit Ajay as a new partner with 1/5th share in the profits of the firm. Ajay brings ₹ 5,00,000 as his share of capital. The value of total assets of the firm was ₹ 15,00,000 and outside liabilities were valued at ₹ 5,00,000. on that date. Give necessary journal entry to record goodwill at the time of Ajay’s admission. Also show your workings.

[Ans.: Dr. Ajay’s Capital/Current A/c by ₹ 2,00,000; Cr. Asin’s Capital A/c by ₹ 1,00,000 and Shreya’s Capital A/c by ₹ 1,00,000.]

Solution:-

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

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