[CBSE] Q. 76 of Admission of Partner TS Grewal Accounts Class 12 (2026-27)

Solution to Question number 76 of the Admission of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board?

Raman and Rohit were partners in a firm sharing profits and losses in the ratio 0f 2 : 1. On 31st March, 2018, their Balance Sheet was as follows:

Liabilities	₹	Assets	₹
Capitals Raman Rohit	1,40,000 1,00,000	Plant and Machinery	1,75,000
Workmen Compensation Fund	40,000	Furniture & Fixtures	65,000
Creditors	1,60,000	Stock	47,000
		Debtors 1,10,000 Less: PDD 7,000	1,03,000
		Bank Balance	50,000
	4,40,000		4,40,000

On the above date, Saloni was admitted in the partnership firm. Raman surrendered 2/5th of his share and Rohit surrendered 1/5th of his share in favour of Saloni. It was agreed that:

(i) Plant and machinery will be reduced by 35,000 and furniture and fixtures will be reduced to ₹ 58.500.

(ii) Provision for bad and doubtful debts will be increased by3,000.

(iii) A claim for 16,000 for workmen’s compensation was admitted.

(iv) A liability of 2,500 included in creditors is not likely to arise.

(v) Saloni will bring ₹ 42,000 as her share of goodwill premium and proportionate capital.

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

(CBSE 2019)

Ans.:Loss on Revaluation = ₹ 42,000; Partners’ Capital Accounts: Raman – 1,61,600; Rohit 1,02,400; Saloni 1,32,000; Balance Sheet Total 5,69,500.

Solution:-

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

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