[ISC] Q. 56 Solution of Admission of Partner TS Grewal Accounts Class 12 (2024-25)

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Solution to Question number 56 of the Admission of partner chapter 3 of TS Grewal Book 2024-25 Edition ISC/CISCE Board.

Shabir and Jiwan are partners in a firm sharing profits and losses in the ratio of 3 : 2. Joy was admitted for 1/3rd share in the profits. On the date of Joy’s admission, Balance Sheet of Shabir and Jiwan showed General Reserve of ₹ 1,60,000 and a balance of ₹ 1,20,000 in Profit & Loss Account on assets side of the Balance Sheet. Pass necessary Journal entries on the treatment of these items on Joy’s admission.

Solution:-

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

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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 and can download the Android & ios app for free lectures.

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