[ISC] Q. 57 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)
Solution to Question number 57 of the Admission of partner chapter 3 of TS Grewal Book 2023-24 Edition ISC/CISCE Board.
Anuj, Karan and Arjun are partners sharing profits and losses in the ratio of 5 : 3 : 2. They admit Sahil as partner and share future profits and losses in the ratio of 3 : 3 : 3 : 1, with effect from 1st April, 2023. An extract of their Balance Sheet as at 31st March, 2023 is:
| Liabilities | ₹ | Assets | ₹ |
| Investments Fluctuation Reserve | 10,000 | Investments (At Cost) | 1,00,000 |
Show the accounting treatment of Investment Fluctuation Reserve under following alternative cases:
Case 1. When there is no other information.
Case 2. When Market value of investments is ₹ 1,00,000.
Case 3: When Market value of investments is ₹ 95,000.
Case 4: When Market value of investments is ₹ 85,000.
Case 5: When Market value of investments is ₹ 1,10,000.
Solution:-
