[CBSE] Q. 70 of Admission of Partner TS Grewal Accounts Class 12 (2026-27)

Solution to Question number 70 of the Admission of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board?

Shubhi and Revanshi were partners in a firm sharing profit and losses in the ratio fo 3 : 2. Their Balance sheet as at 31st March, 2023 was as follows:

Liabilities	₹	Assets	₹
Capitals: Shubshi Revanshi	60,000 32,000	Fixed Assets	90,000
General Reaerve	30,000	Stock	38,000
Bankn Loan	18,000	Debtors	30,000
Creditors	70,000	Cash	52,000
	2,10,000		2,10,000

On 1st April, 2023, they admitted Pari into the partnership on the following terms:

(i) Pari will bring 50,000 as her capital and 50,000 for her share of premium for goodwill for 1/4th share in the profits of the firm.

(ii) Fixed assets were depreciated @ 30%.

(iii) Stock was valued at 45,000.

(iv) Bank loan was paid off.

(v) After all adjustments capitals of Shubhi and Revanshi were to be adjusted taking Pari’s capital as the base. Actual cash was to be paid off or brought in by the old partners as the case may be.

Prepare Revaluation Account and Partners’ Capital Accounts.

(CBSE 2024)

[Ans: Sacrificing Ratio-3 : 2; New Profit-sharing Ratio-9 :6:5, Revaluation Loss 20,000; Shubhi will withdraw cash of₹ 6,000 and Revanshi will bring cash of₹ 4,000; Partners’ Capital Accounts: Shubhi 90,000; Revanshi 60,000; Pari 50,000.]

Solution:-

Here is the list of all Solutions of Admission of Partners of TS Grewal class 12 CBSE 2026-27.

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