[ISC] Q. 40 Solution of Admission of Partner TS Grewal Accounts Class 12 (2024-25)

Solution to Question number 40 of the Admission of partner chapter 3 of TS Grewal Book 2024-25 Edition ISC/CISCE Board.

Balance Sheet as at 31st March, 2023 of Sonam and Shilpa sharing profits in the ratio of 3 : 2 was:

Liabilities	₹	Assets	₹
Sundry Creditors	1,79,000	Cash at Bank	59,000
Bills Payable	1,20,000	Sundry Debtors	60,000
Reserves	50,000	Stock	70,000
Profit & Loss A/c	11,000	Advertisement Expenditure (Deferred Revenue)	1,000
Sonam’s Capital	30,000	Fixed Assets	2,20,000
Shilpa’s Capital	20,000
	4,10,000		4,10,000

They admit Samay as a partner on 1st April, 2024 for 1/4th share in the profits of the firm. Samay brings ₹ 50,000 as his capital.

Give necessary Journal entry to record the goodwill.

Solution:-

Here is the list of all Solutions of Admission of Partners of TS Grewal class 12 ISC Board 2024-25.

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
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10	Question – 10

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11	Question – 11
12	Question – 12
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14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

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25	Question – 25
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30	Question – 30

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31	Question – 31
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36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

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41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
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46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

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51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
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56	Question – 56
57	Question – 57
58	Question – 58
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60	Question – 60

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61	Question – 61
62	Question – 62
63	Question – 63
64	Question – 64
65	Question – 65
66	Question – 66
67	Question – 67
68	Question – 68
69	Question – 69
70	Question – 70

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71	Question – 71
72	Question – 72
73	Question – 73
74	Question – 74
75	Question – 75
76	Question – 76
77	Question – 77
78	Question – 78
79	Question – 79
80	Question – 80

S.N	Questions
81	Question – 81
82	Question – 82
83	Question – 83
84	Question – 84
85	Question – 85
86	Question – 86
87	Question – 87
88	Question – 88
89	Question – 89