[ISC] Q. 46 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)

Solution to Question number 46 of the Admission of partner chapter 3 of TS Grewal Book 2023-24 Edition ISC/CISCE Board.

Gurm and Sharan are partners sharing profits in the ratio of 3 : 2. They admitted Preet as a partner for 1/4th share of profits. At the time of admission of Preet, Investments appeared at ₹ 80,000. Half of the investments to be taken by Gurm and Sharan in their profit sharing ratio at book value. Remaining investments were valued at ₹ 50,000. Pass the necessary Journal entries.

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