[CBSE] Q. 43 Solution of Admission of Partner TS Grewal Class 12 (2024-25)

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Solution to Question number 43 of the Admission of Partner chapter 5 of TS Grewal Book 2024-25 Edition CBSE Board?

X and Y are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Z as a partner and fixed new profit sharing ratio as 3 : 2 : 1. At the time of admission of Z, Debtors and Provision for Doubtful Debts existed at ₹ 50,000 and ₹ 5,000 respectively. All debtors are good. Pass the necessary Journal entries.

[Ans.: (I) Dr. Provision for Doubtful Debts A/c and Cr. Revaluation A/c by ₹ 5,000. (ii) Dr. Revaluation A/c by ₹ 5,000; Cr. X’s Capital A/c by ₹ 3,000, and Y’s Capital A/c by ₹ 2,000.]

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 for free lectures

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