[ISC] Q. 86 Solution of Admission of Partner TS Grewal Accounts Class 12 (2023-24)
Solution of Question 86 of the Admission of partner chapter 3 of TS Grewal Book 2023-24 Edition ISC/CISCE Board?
Ashish and Akash are partners in a firm sharing profits in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2023 was as under:
Solution:-
Journal
| Particulars | Dr. | Cr. |
| Cash A/c Dr. | 30,450 | |
| To Namrata’s Capital A/c To Premium for Goodwill A/c (Being Namrata bring her amount of capital and share of goodwill) | 23,450 7,000 |
| Particulars | Dr. | Cr. |
| Premium for Goodwill A/c Dr. | 7,000 | |
| To Ashish’s Capital A/c To Akash’s Capital A/c (Being premium for goodwill transferred to Partner’s capital A/cs in their sacrificing ratio, i.e., 9 : 1) | 6,300 700 |
