[NCERT] Q 23 Admission of Partner Solutions Class 12

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Solution of question number 23 Admission of Partner NCERT Accountancy solutions Class 12 CBSE Board.

Amar and Samar were partners in a firm sharing profits and losses in 3 : 1 ratio. They admitted Kanwar for 1/4 share of profits. Kanwar could not bring his share of goodwill premium in cash. The Goodwill of the firm was valued at Rs. 80,000 on Kanwar’s admission. Record necessary journal entry for goodwill on Kanwar’s admission.

Solution:-

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Anurag Pathak

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