[ISC] Q. 59 Solution of Admission of Partner TS Grewal Accounts Class 12 (2024-25)

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Solution to Question number 59 of the Admission of partner chapter 3 of TS Grewal Book 2024-25 Edition ISC/CISCE Board.

Pronoy, Jagjit and Sachin are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admit Rajdeep as a partner and share future profits and losses equally with effect from 1st April, 2023. An extract of their Balance Sheet as at 31st March, 2023 is:

LiabilitiesAssets
Workmen Compensation
Reserve
12,000——————-——-

Show the accounting treatment of Workmen Compensation Reserve under following alternative cases:

Case 1. When there is no other information.

Case 2. When a claim on account of Workmen Compensation is ₹ 1,500.

Case 3. When a claim on account of Workmen Compensation is ₹ 22,000.

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

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