[ISC] Q. 29 Solution of Admission of Partner TS Grewal Accounts Class 12 (2024-25)

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Solution to Question number 29 of the Admission of partner chapter 3 of TS Grewal Book 2024-25 Edition ISC/CISCE Board.

Rao and Reddy are in partnership sharing profits and losses in the ratio of 5 : 3. Kutty is admitted as a partner paying ₹ 40,000 as capital and the necessary amount of goodwill which is valued at ₹ 60,000 for the firm. Half of the amount of goodwill is withdrawn by Rao and Reddy. Kutty’s share of profits is 1/5th of which he takes 1/10th from Rao and 1/10th from Reddy. Pass the necessary Journal entries to adjust goodwill.

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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