[ISC] Q. 31, 32, 33 Solution of Admission of Partner TS Grewal Accounts Class 12 (2026-27)

Solution to Question number 31, 32, 33 of the Admission of partner chapter 3 of TS Grewal Book 2026-27 Edition ISC/CISCE Board?

Q. 31. Nimrat and Rantej are partners in a firm sharing profits and losses in the ratio of 5 : 3. Anahat is admitted as a new partner for 1/8th share in the profits of the firm. Anahat brings ₹ 80,000 as her capital but is not able to bring amount of goodwill. Goodwill of the firm is valued at ₹ 60,000. It is decided that new profit sharing ratio will 9 : 5 : 2. Pass necessary Journal entry for the adjustment of goodwill.

Solution:-

Q. 32. Karam and Rhea are partners for equal shares. They admit Paras as partner for 1/3 share. Goodwill, on admission is valued at 2,40,000. Paras brings his share of Premium for Goodwill as follows: 50% by cheque, stock of 20,000 and he is unable to bring the balance amount.

Pass the Journal entry for the above.

Solution:-

Working Notes:

1. Calculation of Paras’s Share of Goodwill

Total Goodwill of the Firm: ₹2,40,000

Paras’s Share: 1/3

Paras’s Share of Goodwill: ₹ 2,40,000 x 1/3 = ₹80,000

2. Breakdown of Paras’s Contribution

Paras needs to bring ₹80,000. He contributes as follows:

50% by Cheque: ₹ 80,000 x 50% = ₹ 40,000 Stock: ₹20,000.

Balance Amount (Current Account): ₹ 80,000 – (40,000 + 20,000) = ₹ 20,000}:

Since he is unable to bring the remaining balance in cash, it is debited to his Capital/Current Account.

Q. 33. Arun, Arvind and Alok are in partnership sharing profits and losses in the ratio of 5 : 4 : 1. Two new partners Ankur and Aseem are admitted. The profits are to be shared in the ratio of 3 : 4 : 2 : 2 : 1 respectively. Ankur is to pay ₹ 90,000 for his share of goodwill but Aseem is unable to bring his share of Goodwill. Both the new partners introduced ₹ 1,20,000 each as their capital. Pass necessary Journal entries.

Solution:-