[ISC] Q. 27 Solution of Admission of Partner TS Grewal Accounts Class 12 (2024-25)

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Solution to Question number 27 of the Admission of partner chapter 3 of TS Grewal Book 2024-25 Edition ISC/CISCE Board.

Sachin and Kapil are partners sharing profits and losses in the ratio of 2 : 3. On 1st April, 2024, they admit Amit into partnership for 1/4th share in profits. Amit brought ₹ 2,00,000 for his capital and ₹ 36,000 as premium for his share in the profits. The new profit sharing ratio of Sachin, Kapil and Amit is agreed to be 3 : 3 : 2. Sachin Kapil withdraw the premium for goodwill from the business.

Pass necessary Journal entries when the firm follows Fixed Capital Accounts Method.

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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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