[CBSE] Q. 74 of Admission of Partner TS Grewal Accounts Class 12 (2026-27)

Solution to Question number 74 of the Admission of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board?

Anshu and Vihu were partners in a firm sharing profits and losses in the ratio of 3 : 2. Their Balance sheet as at 31st March, 2023 was as follows:

Liabilities	₹	Assets	₹
Creditors	80,000	Cash	40,000
General Reserve	50,000	Debtors 36,000 Less: PDD 2,000	34,000
Investment Fluctuation Fund	10,000	Stock	30,000
Capitals: Anshu Vihu	1,44,000 80,000	Investments	40,000
		Plant and Machinery	2,20,000
	3,64,000		3,64,000

On 1st April, 2023, Mani was admitted into partnership for 1/5th share in the profits of the following terms:

(i) Mani brought 20,000 as her share of goodwill and proportionate capital.

(ii) Provision for Doubtful Debts was to be maintained at 10% on debtors.

(iii) Market Value of investments was 35,000.

(iv) The value of Plant and Machinery be increased by 6,600.

Prepare Revaluation Account and Partners’ Capital Accounts.

(CBSE 2024 C)

[Ans.: Sacrificing Ratio-3: 2; Gain (Profit) on Revaluation- 5,000;
Partners’ Capital A/c Balances: Anshu- 1,92,000; Vihu 1,12,000; Mani 76,000.]

Solution:-

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

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