[CBSE] Q. 72 of Admission of Partner TS Grewal Accounts Class 12 (2026-27)

Solution to Question number 72 of the Admission of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board?

Gautam and Yashica are partners in a firm, sharing profits and losses in 3 : 1 respectively. The Balance Sheet of the firm as on 31st March, 2018 was as follows:

Balance Sheet
as at 31st March, 2018

Liabilities	₹	Assets	₹
Sundry Creditors		Furniture	60,000
Bills Payable		Stock	1,40,000
Capitals: Gautam Yashika	4,00,000 1,00,000	Debtors	80,000
		Cash in Hand	90,000
		Machinery	2,10,000
	5,80,000		5,80,000

Asma is admitted asa partner for 3/8th share of the profits with a capital of 2,10,000 and 50,000 for her share of goodwill. It was decided that:

(i) New profit-sharing ratio will be 3:2: 3.

(ii) Machinery will be depreciated by 10% and Furniture by 5,000.

(iii) Stock was revalued at 2,10,000.

(iv) Provision for doubtful debts is to be created at 10% of debtors.

(v) The capitals of all the partners were to be in the new profit-sharing ratio on basis of capital of new partner. Any adjustment to be done through Current Accounts.

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

(CBSE Sample Question Paper 2019)

Ans.:Gain (Profit) on Revaluation = ₹ 36,000. Partners’ Capital Accounts: Gautam—₹ 2,10,000; Yashica- 1,40,000; Asma- 2,10,000; Balance Sheet Total- 9,07,000.]

Solution:-

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

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