[CBSE] Q 74, 75 DK Goel Admission of a Partner Solutions Class 12 (2026-27)
Solutions of Question number 74, 75 of Admission of a Partner chapter 3 of DK Goel Class 12 CBSE (2026-27)
Q. 74. A and B are partners sharing profits in the ratio of 5 : 3. C was admitted for 1/4th share in profits. C acquires this share as 3/16 from A and 1/4th of his share from B. C brings in ₹ 1,00,000 as his capital.
At the time of C’s admission:
(i) The firm’s goodwill was valued at ₹ 2,40,000.
(ii) General Reserve was ₹ 40,000.
(iii) Profit on revaluation of assets and liabilities was ₹ 24,000.
Before any adjustments were made, the Capitals of A and B were ₹ 1,20,000 and ₹ 70,000 respectively.
It is decided that after C’s admission, the Capitals of A and B be adjusted on the basis of C’s Capital, any excess or shortfall to be adjusted by withdrawing or bringing in Cash by the old partners. You are required to pass necessary journal entries on C’s admission.
[Ans. Capitals after adjustment for goodwill, general reserve and profit on revaluation: A ₹ 2,05,000 and B ₹ 1,09,000; Final Capitals A ₹ 1,75,000 and B ₹ 1,25,000; A withdraws ₹ 30,000 and B brings in ₹ 16,000.]
Solution:-
Q. 75. Om, Ram and Shanti were partners in a firm sharing profits in the ratio of 3 : 2 : 1. On 1st April, 2014 their Balance Sheet was as follows:
| Liabilities | ₹ | Assets | ₹ |
| Capital Accounts: Om Ram Shanti General Reserve Creditors Bills Payable | 3,58,000 3,00,000 2,62,000 48,000 1,60,000 90,000 | Land and Building Plant and Machinery Furniture Bills Receivables Sundry Debtors Stock Bank | 3,64,000 2,95,000 2,33,000 38,000 90,000 1,11,000 87,000 |
| 12,18,000 | 12,18,000 |
On the above date Hanuman was admitted on the following terms:
(i) He will bring ₹ 1,00,000 for his capital and will get 1/10th share in the profits.
(ii) He will bring necessary cash for his share of goodwill premium. The goodwill of the firm was valued at ₹ 3,00,000.
(iii) A liability of ₹ 18,000 will be created against bills receivables discounted.
(iv) The value of stock and furniture will be reduced by 20%.
(v) The value of land and building will be increased by 10%.
(vi) Capital accounts of the partners will be adjusted on the basis of Hanuman’s Capital in their profit sharing raito by opening current accounts.
Prepare Revaluation Account and Partner’s Capital Accounts.
[Ans: Loss on Revaluation ₹ 50,400; Capital Accounts Om ₹ 4,50,000; Ram ₹ 3,00,000; Shanti ₹ 1,50,000 and Hanuman ₹ 1,00,000; Om’s Current A/c ₹ 78,200 (Dr.) Ram’s Current A/c ₹ 9,200 (Cr.); Shanti’s Current A/c ₹ 1,16,600 (Cr.).]
Solution:-
