DK Goel Solutions Q 43 Chapter 3 Admission of a Partner Class 12 CBSE [2023-24]
Step-by-step solution of Question 43, Chapter 3 Admission of a Partner, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 43
X, Y and Z were partners sharing profits and losses as to X one-half; Y one-third; and Z one-sixth. As from 1st April, 2022, they agreed to admit A into partnership for one-sixth share in profits and losses, which he acquires equally from X and Y, and is to bring in ₹ 50,000 for his capital and ₹ 20,000 as premium for goodwill. A paid in his capital money but in respect of premium for goodwill, he could bring in only ₹ 15,000.
You are required to :
- (i) give the Journal entries to carry out the above arrangements, and
- (ii) work out the new profit-sharing ratio of the partners.
Solution
All questions of Chapter 3
Orange = this question · Grey = already opened.
About this solution
This is Chapter 3 Admission of a Partner of DK Goel For 2024 Examinations.
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 CBSE Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
Stuck on this question? Ask Vijay Sir
Be the first to ask on this question.