[CBSE] Q. 46 Solution of Admission of Partner TS Grewal Class 12 (2024-25)

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Solution to Question number 46 of the Admission of Partner chapter 5 of TS Grewal Book 2024-25 Edition CBSE Board?

At the time of admission of a partner Suresh, assets and liabilities of Ramesh and Naresh were revalued as follows:

a) A Provision for Doubtful Debts @ 10% was made on Sundry Debtors (Sundry Debtors ₹ 50,000).

b) Creditors were written back by ₹ 5,000.

c) Building was appreciated by 20% (Books value of Building ₹ 2,00,000).

d) Unrecorded Investments were valued at ₹ 15,000.

e) A provision of ₹ 2,000 was made for an Outstanding Bill for repairs.

f) Unrecorded Liability towards suppliers was ₹ 3,000.

Pass necessary Journal entries.

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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