[CBSE] Q. 51 Solution of Admission of Partner TS Grewal Class 12 (2024-25)

Solution to Question number 51 of the Admission of Partner chapter 5 of TS Grewal Book 2024-25 Edition CBSE Board?

a) An extract of the Balance Sheet of Murari and Vohra sharing profits and losses in the ratio of 3 : 2 was as under:

Liabilities	₹	Assets	₹
General Reserve Contingency Reserve Profit & Loss A/c Investment Fluctuation Reserve Workmen Compensation Reserve Employees Provident Fund	30,000 2,700 18,000 9,000 7,200 20,000	Investments (Market Value ₹ 1,14,000) Advertisement Expenditure (Deferred Revenue)	1,20,000 6,000

New Partner Krishna was admitted for 1/5th share of profits. A claim on account of workmen Compensation Reserve is estimated for ₹ 900.

Pass the necessary Journal entries to adjust accumulated profits and losses.

(b) A, B and C were partners sharing profits and losses in the ratio of 6 : 3 : 1. They take D into partnership with effect from 1st April, 2023. The new profit sharing ratio between A, B, C and D will be 3 : 3 : 3 : 1. They also decide to record the effect of the following without affecting their book values by passing an adjusting entry:

	Book Value (₹)
General Reserve	1,50,000
Contingency Reserve	60,000
Profit & Loss A/c (Cr.)	90,000
Advertisement Suspense A/c (Dr.)	1,20,000

Pass the necessary adjustment entry through the Partner’s Current Account.

[Ans.: (a) Credit for share in Reserves & Profits: Murari ₹ 35,000; Vohra ₹ 24,000; Debit for share in Losses: Murari ₹ 3,600; Vohra ₹ 2,400 (Deferred Revenue); (b) Dr. C’s Current A/c by ₹ 36,000 and D’s Current A/c by ₹ 18,000; Cr. A’s Current A/c by ₹ 54,000.]

Solution:-

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

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Questions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Questions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

S.N	Questions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

S.N	Questions
51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
55	Question – 55
56	Question – 56
57	Question – 57
58	Question – 58
59	Question – 59
60	Question – 60

S.N	Questions
61	Question – 61
62	Question – 62
63	Question – 63
64	Question – 64
65	Question – 65
66	Question – 66
67	Question – 67
68	Question – 68
69	Question – 69
70	Question – 70

S.N	Questions
71	Question – 71
72	Question – 72
73	Question – 73
74	Question – 74
75	Question – 75
76	Question – 76
77	Question – 77
78	Question – 78