[ISC] Q. 34, 35, 36 Solution of Admission of Partner TS Grewal Accounts Class 12 (2026-27)
Solution to Question number 34, 35, 36 of the Admission of partner chapter 3 of TS Grewal Book 2026-27 Edition ISC/CISCE Board?
Q. 34. Ruby is admitted as a partner in a firm for 1/8 share in the profits. She contributes 1,20,000 as her capital.
The capitals of the old partners after all adjustments (excluding their goodwill compensation from Ruby) were ₹ 5,80,000.
The goodwill of the firm is valued on the basis of the capital brought in by Ruby and her share in the profits of the firm.
What is the value of Goodwill of the firm at the time of Ruby’s admission?
Solution:-
Q. 35. Rajat and Amar are partners with capitals of ₹ 90,000 respectively. They admit Karan into partnership for 1/5th sahre in the profit of the firm. Karan brings ₹ 80,000 as his capital but is unable to bring for goodwill. Goodwill is to be calculated on the basis of Karan’s share in the profits and the capital contributed by him. Give Journal entries to record the goodwill.
Solution:-
Q. 36. Reema and Seema are partners with capitals of ₹ 50,000 each. They admit Sam as a partner with 1/4th share in the profits of the firm. Sam brings ₹ 80,000 as his share of capital. Profit and Loss Account showed a credit balance of ₹ 40,000 as on date of admission of Sam. Pass necessary Journal entries to record the goodwill.
Solution:-
