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

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

Pankaj and Lalit are partners in a firm sharing profits in the ratio of 3 : 2. On 1st April, 2023, they admit Jatinder as a partner for 1/4th share in the profits.

Jatinder contributed following assets towards his capital and for his share of goodwill:

Stock ₹ 60,000; Debtors ₹ 80,000; Land ₹ 1,00,000; Plant and Machinery ₹ 40,000.

On the date of admission of Jatinder, goodwill of the firm was valued at ₹ 6,00,000.

Record necessary Journal entries in the books of the firm on Jatinder’s admission.

Solution:-

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

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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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