[CBSE] Q 42 DK Goel Admission of a Partner Solutions Class 12 (2024-25)
The solution of Question number 42 of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2024-25)
Q. 42. A and B are partners sharing profits in the ratio of 3 : 1. C is admitted as a partner with 2/9th share; A and B will in future get 4/9th and 3/9th share of profits. C pays ₹ 2,00,000 for goodwill. Pass the necessary journal entries.
[Ans. A sacrifices 11/36 whereas B gains 3/36 and C gains 8/36. Hence, premium for goodwill A/c will be debited by ₹ 2,00,000 and B’s Capital A/c will be debited by ₹ 75,000 and A’s Capital A/c will be credited by ₹ 2,75,000.]
Solution:-
