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

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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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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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