[CBSE] Q 68, 69 DK Goel Admission of a Partner Solutions Class 12 (2026-27)
Solutions of Question number 68, 69(A),(B) of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2026-27)
Q. 68. A, B and C are partners sharing profits and losses in the ratio of 6 : 3 : 1. Their respective capitals are A ₹ 5,00,000; B ₹ 4,00,000 and C ₹ 2,00,000. They decide to admit D into partnership and the new profit sharing ratio is agreed at 3 : 3 : 3 : 1.
D brings ₹ 1,50,000 as his capital and his share of goodwill in cash. At the time of D’s admission.
(a) The firm had a Workmen Compensation Reserve of ₹ 1,00,000 against which there was a claim of ₹ 1,20,000.
(b) Advertisement Suspense A/c (Dr.) balance appeared in their books at ₹ 30,000.
(c) Contingency Reserve appeared at ₹ 60,000.
You are required to prepare necessary journal entries.
Solution:-
Q. 69 (A). Nem and Khem sharing profits in the ratio of 3 : 2 admit Prem as a partner with 1/3 share in profits. He had to contribute proportionate capital. They had following financial position:
Balance Sheet as at 31st March
| Liabilities | ₹ | Assets | ₹ |
| Creditors | 40,000 | Cash at Bank | 5,000 |
| Reserve Fund | 50,000 | Debtors | 60,000 |
| Capitals: Nem Khem | 50,000 40,000 | Stock | 35,000 |
| Plant and Machinery | 80,000 | ||
| 1,80,000 | 1,80,000 |
They agreed to admit Prem as a partner on the following terms:
(i) Plant and Machinery to be reduced by 10%.
(ii) Stock to be increased by ₹ 3,000.
(iii) Bad debts provision was to be created at 5%.
(iv) Accrued incomes not appearing in the books ₹ 900.
(v) Prem was to introduce ₹ 20,000 as premium for goodwill for 1/3rd share of the future profits of the firm.
Prepare Profit and Loss Adjustment Account, Capital Accounts and Balance Sheet of the new firm. Also calculate new profit sharing ratio.
[Ans. Loss on Revaluation ₹ 7,100; Capital Accounts : Nem ₹ 87,740; Khem ₹ 65,160 and Prem ₹ 76,450; Bank Balance ₹ 1,01,450; and Balance Sheet Total ₹ 2,69,350. New Profit sharing ratio 6 : 4 : 5.]
Solution:-
Solution:-
