[ISC] Q. 25 Solution of Admission of Partner TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 25, Chapter 3 Admission of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 25
Pankaj and Lalit are partners in a firm sharing profits in the ratio of 3 : 2. On 1st April, 2023, they admit Jatinder as a partner for 1/4th share in the profits.
Jatinder contributed following assets towards his capital and for his share of goodwill:
Stock ₹ 60,000; Debtors ₹ 80,000; Land ₹ 1,00,000; Plant and Machinery ₹ 40,000.
On the date of admission of Jatinder, goodwill of the firm was valued at ₹ 6,00,000.
Record necessary Journal entries in the books of the firm on Jatinder’s admission.
Solution
All questions of Chapter 3
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About this solution
This is Chapter 3 Admission of a Partner of ISC TS Grewal Edition 2023-24.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per Guidelines Issued by the ISC Council. Just follow our presentation of solutions and score good marks in Accountancy Exam.
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