[ISC] Q. 43, 44, 45 Solution of Admission of Partner TS Grewal Accounts Class 12 (2026-27)
Solution to Question number 43, 44, 45 of the Admission of partner chapter 3 of TS Grewal Book 2026-27 Edition ISC/CISCE Board?
Q. 43. Pass entries in the firm’s Journal for the following on admission of a partner.
(i) Machinery be reduced by ₹ 16,000 and Building be appreciated by ₹ 40,000.
(ii) A provision be created for Doubful Debts @ 5% of Debtors amounting to ₹ 80,000.
(iii) Provision for warranty claims be increased by ₹ 12,000.
Solution:-
Q. 44. Pass entries in firm’s Journal for the following on admission of a partner:
(i) Unrecorded Investments of ₹ 20,000.
(ii) Unrecorded liability towards suppliers for ₹ 5,000.
(iii) An item of ₹ 1,600 included in Sundry Creditors is not likely to be claimed and hence should be written back.
Solution:-
Q. 45. Rajan and Simrat are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Rakesh as a new partner and fixed the new profit sharing ratio as 3 : 2 : 1. At the time of admission of Rakesh, Debtors and Provision for Doubtful Debts appeared at ₹ 50,000 and ₹ 5,000 respectively. All Debtors are good. Pass the necessary Journal entries.
Solution:-
