[CBSE] Q 66, 67 DK Goel Admission of a Partner Solutions Class 12 (2026-27)
Solutions of Question number 66, 67 of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2026-27)
Q. 66. A, B and C were partners in a firm sharing profits in the ratio 2 : 1 : 1. The value of the total assets of the firm was 8,00,000 and outside liabilities were valued at 1,20,000 as at that date. On 1st April, 2024 they admitted D as a new partner. D brought 2,00,000 for his capital and necessary amount for his share of goodwill premium. The new profit sharing
ratio between A, B, C and D will be 1 : 2 : 1: 1. of
Pass necessary journal entries for the above transactions in the books of the firm on D’s admission.
Solution:-
Q. 67 Following is the Balance sheet of X and Y who share profits and looses in the ratio of 3 : 2 as at 31st March, 2022:
| Liabilities | ₹ | Assets | ₹ |
| Sundry Creditors | 80,000 | Cash at Bank | 20,000 |
| Reserve | 1,00,000 | Debtors | 70,000 |
| Profit & Loss A/c | 40,000 | Stock | 1,80,000 |
| Capital Accounts: X Y | 2,70,000 1,60,000 | Machinery | 3,50,000 |
| Goodwill | 30,000 | ||
| 6,50,000 | 6,50,000 |
On 1st April 2022, Z is admitted as a new partner. X surrenders 1/3rd of his share and Y surrenders 1/4th of his share in favour of Z. Z brings in ₹ 3,60,000 for his share of Capital. Pass Journal entries for recording goodwill.
[Ans. Hidden Goodwill ₹ 3,00,000; Z’s Current A/c will be debited by ₹ 90,000 and X and Y’s Capital A/cs will be credited by ₹ 60,000 and ₹ 30,000 respectively.
Solution:-
