[ISC] Q. 24 Solution of Admission of Partner TS Grewal Accounts Class 12 (2024-25)

Solution to Question number 24 of the Admission of partner chapter 3 of TS Grewal Book 2024-25 Edition ISC/CISCE Board.

Following is the Balance Sheet as at 1st April, 2024 of Sushil and Satish who are in partnership sharing profits and losses in the ratio of 5 : 2.

Liabilities	₹	Assets		₹
Bank Loan Sundry Creditors Capital A/cs: Sushil Satish	23,000 55,000 48,000 42,000	Bank Stock Debtors Less: Provision for Doubtful Debts Plant and Machinery Building	18,300 300	6,000 12,000 18,000 30,000 1,02,000
	1,68,000			1,68,000

On that date, they admit Samir as a partner on the following terms:

(I) Samir will bring ₹ 60,000 for his capital and the necessary amount of goodwill/premium in cash for 3/8th share in the future profits.

(ii) Goodwill of the firm on Samir’s admission was valued at ₹ 84,000.

(iii) New Profit sharing ratio will be 2 : 3 : 3.

Pass necessary Journal entries to record the above transactions and prepare Balance Sheet of the firm after Samir’s admission as a partner.

Solution:-

Here is the list of all Solutions of Admission of Partners of TS Grewal class 12 ISC Board 2024-25.

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Questions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Questions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

S.N	Questions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

S.N	Questions
51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
55	Question – 55
56	Question – 56
57	Question – 57
58	Question – 58
59	Question – 59
60	Question – 60

S.N	Questions
61	Question – 61
62	Question – 62
63	Question – 63
64	Question – 64
65	Question – 65
66	Question – 66
67	Question – 67
68	Question – 68
69	Question – 69
70	Question – 70

S.N	Questions
71	Question – 71
72	Question – 72
73	Question – 73
74	Question – 74
75	Question – 75
76	Question – 76
77	Question – 77
78	Question – 78
79	Question – 79
80	Question – 80

S.N	Questions
81	Question – 81
82	Question – 82
83	Question – 83
84	Question – 84
85	Question – 85
86	Question – 86
87	Question – 87
88	Question – 88
89	Question – 89