[CBSE] Q. 44 Solution of Admission of Partner TS Grewal Class 12 (2024-25)

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Solution to Question number 44 of the Admission of Partner chapter 5 of TS Grewal Book 2024-25 Edition CBSE Board?

X and Y are partners sharing profits in the ratio of 3 : 2. They admitted Z as a partner for 1/4th share of profits. At the time of admission of Z, Investments appeared at ₹ 80,000. Half of the investments to be taken by X and Y in their profit sharing at book value. Remaining investments were valued at ₹ 50,000. Pass the necessary Journal entries.

Ans.: (I) Dr. X’s Capital A/c by ₹ 24,000 and Y’s Capital A/c by ₹ 16,000; Cr. Investments A/c by ₹ 40,000. (ii) Dr. Investments A/c and Cr. Revaluation A/c by ₹ 10,000. (iii) Dr. Revaluationa A/c by ₹ 10,000; Cr. X’s Capital A/c by ₹ 6,000 and Y’s Capital A/c by ₹ 4,000.]

Solution:-

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

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76Question – 76
77Question – 77
78Question – 78
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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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