[CBSE] Q. 40 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

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Solution to Question number 40 of the Admission of Partner chapter 5 of TS Grewal Book 2023-24 Edition CBSE Board?

Question – 40

X and Y are equal partners in a firm. They admit Z into partnership and the new profit sharing ratio between X, Y and Z is 4 : 3 : 2. On Z’s admission, goodwill of the firm is valued at ₹ 36,000. Z is unable to bring his share of goodwill premium in cash. Pass necessary Journal entries for treatment of goodwill on Z’s admission by raising and writing off goodwill.

Solution:-

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Anurag Pathak
Anurag Pathak

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