[ISC] Q. 39 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

Share your love

Solution to Question number 39 of the Admission of partner chapter 3 of TS Grewal Book 2023-24 Edition ISC/CISCE Board.

Abek and Aman are partners sharing profits and losses in the ratio of 3 : 1. They admit Anand as partner who pays ₹ 30,000 as capital. Anand is to bring cash for his share of goodwill. The new ratio is to be 3 : 1 : 1. Goodwill of the firm is to be based on 3 year’s purchase of the average of 4 year’s profits which were ₹ 15,000; ₹ 12,000; ₹ 18,000 and ₹ 19,000. Goodwill Account exists in the books at ₹ 4,000. Pass necessary Journal entries.

Solution:-

Share your love
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

Articles: 6553

Leave a Reply

Your email address will not be published. Required fields are marked *

x