[CBSE] Q. 73 of Admission of Partner TS Grewal Accounts Class 12 (2026-27)

Solution to Question number 73 of the Admission of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board?

Ishu and Vishu are partners sharing profits in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2025 was as follows:

Liabilities	₹	Assets	₹
Creditors	66,000	Cash at Bank	87,000
General Reserve	10,000	Debtors 42,000 Less PDD 7,000	35,000
Investment Fluctuation Reserve	4,000	Investments (Market Value ₹ 19,000)	21,000
Ishu’s Capital	1,19,000	Building	98,000
Vishu’s Capital	1,12,000	Plant and Machinery	70,000
	3,11,000		3,11,000

Nishu was admitted on that date for 1/6 share in the profits on the following terms:

(a) Nishu will bring 56,000, as his share of capital.

(b) Goodwill of the firm is valued at 84,000 and Nishu will bring his share of Goodwill in Cash.

(c) Plant and Machinery be appreciated by 20%.

(d) All debtors are good.

(e) There is a liability of 9,800 included in Sundry Creditors that is not likely to arise.

(f) Capitals of Ishu and Vishu will be adjusted on the basis of Nishu’s Capital and any excess or deficiency will be made by withdrawing or bringing in Cash by the concerned partner.

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

Ans.:Gain (Profit) on Revaluation ₹ 30,800; Partners’ Capital Accounts Ishu: ₹ 1,68,000;Vishu: ₹ 1,12,000; Nishu: 56,000. Bank Balance: 1,49,200. Total of Balance Sheet: 3,92,200.]

Solution:-

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

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