[ISC] Q. 31 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

Solution to Question number 31 of the Admission of partner chapter 3 of TS Grewal Book 2023-24 Edition ISC/CISCE Board.

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.

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