[CBSE] Q. 63 Solution of Admission of Partner TS Grewal Class 12 (2024-25)

Solution to Question number 63 of the Admission of Partner chapter 5 of TS Grewal Book 2024-25 Edition CBSE Board?

On 31st March, 2019, the Balance Sheet of A and B, who were sharing profits in the ratio of 3 : 2 was as follows:

Liabilities	₹	Assets		₹
Creditors Investment Fluctuation Fund General Reserve Capital A/cs: A B	30,000 12,000 25,000 1,60,000 1,40,000	Cash at Bank Debtors Less: Provision for Bad debts Stock Investments Furniture	85,000 5,000	20,000 80,000 1,30,000 60,000 77,000
	3,67,000			3,67,000

On 1st April, 2019, they decided to admit C as a new partner for 1/5th share in the profits on the following terms:

(i) C brought ₹ 1,00,000 as his capital and ₹ 50,000 as his share of premium for goodwill.

(ii) Outstanding salaries of ₹ 2,000 be provided for.

(iii) The market value of investments was ₹ 50,000.

(iv) A debtor whose due of ₹ 18,000 were written off as bad debts paid ₹ 12,000 in full settlement.

Prepare Revaluation Account, Partner’s Capital Accounts and the Balance Sheet of the new firm.

[Ans.: Gain (Profit) on Revaluation – ₹ 10,000; Partner’s Capital A/cs: A – ₹ 2,12,200; B – ₹ 1,74,800; C – ₹ 1,00,000; Balance Sheet Total – ₹ 5,19,000.]

Solution:-

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

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1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
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10	Question – 10

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11	Question – 11
12	Question – 12
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18	Question – 18
19	Question – 19
20	Question – 20

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30	Question – 30

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31	Question – 31
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36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

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44	Question – 44
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46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

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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

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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