[CBSE] Q 61, 62 DK Goel Admission of a Partner Solutions Class 12 (2026-27)
Solutions of Question number 61, 62 of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2026-27)
Q. 61. A and B are partners sharing profits in 3 : 1. Their Balance Sheet as at 31st March, 2024 stood as follows:
| Liabilities | ₹ | Assets | ₹ |
| Creditors | 2,60,000 | Land and Buildings | 19,80,000 |
| Workmen Compensation Reserve | 40,000 | Stock | 8,00,000 |
| Capital Accounts: A B | 20,00,000 10,00,000 | Sundry Debtors 4,00,000 Less: Provision 12,000 | 3,88,000 |
| Cash at Bank | 1,32,000 | ||
| 33,00,000 | 33,00,000 |
On 1st April, 2024 they admit C as a new partner on the following terms:
(I) The new profit sharing ratio of A, B and C will be 3 : 2 : 1.
(ii) All debtors are good.
(iii) C to bring in ₹ 5,00,000 as Capital and his share of goodwill amounting to ₹ 60,000 in cash.
(iv) You are required to prepare Partner’s Capital Accounts.
[Ans. Gain on Revaluation ₹ 2,32,000; Balance of Capital Accounts: A ₹ 22,94,000; B ₹ 10,38,000 and C ₹ 5,00,000. A sacrifices 3/12; and B Gains 1/12.]
Solution:-
Working Notes:-
Q. 62. Gautam and Rahul are partners in a firm, sharing profits and losses in the ratio of 2 : 3. Their Balance Sheet as at 31st March, 2023, was as follows:
Balance Sheet as at 31st March, 2023
| Liabilities | ₹ | Assets | ₹ |
| Sundry Creditors | 5,000 | Goodwill | 10,000 |
| Bills Payable | 15,000 | Furniture | 25,000 |
| General Reserve | 10,000 | Stock | 15,000 |
| Capital A/cs: Gautam Rahul | 30,000 40,000 | Sundry Debtors 12,000 Less: Provision for Doubtful Debts 2,000 | 10,000 |
| Cash in Hand | 40,000 | ||
| 1,00,000 | 1,00,000 |
Karim was to be taken as a partner with effect from 1st April, 2023, on the following terms:
(a) The new profit sharing ratio of Gautam, Rahul and Karim would be 5 : 3 : 2.
(b) Provision for Doubtful Debts would be raised to 20% of debtors.
(c) Karim would bring in cash, his share of capital of ₹ 40,000 and his share of goodwill valued at ₹ 10,000.
(d) Gautam would take over the furniture at ₹ 22,000.
You are required to:
(I) Pass journal entries at the time of Karim’s admission.
(ii) Prepare the Balance Sheet of the reconstituted firm.
[Ans. Loss on Revaluation ₹ 3,400; Capital A/cs: Gautam ₹ 1,640; Rahul ₹ 52,960 and Karim ₹ 40,000; B/S Total ₹ 1,14,600.]
Solution:-
Working Notes:-
