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Solution of Q 42 Admission of Partner TS Grewal 2022-23 [CBSE]

Question 42 of 86Chapter 5Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 42, Chapter 5 Admission of a Partner, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.

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Question 42

Verma and Sharma are partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Ghosh as a new partner for 1/5th share of profits. Ghosh is to bring in ₹20,000 as capital and ₹4,000 as his share of goodwill premium. Give the necessary Journal entries:

  1. (a) When the amount of goodwill is retained in the business.
  2. (b) When the amount of goodwill is fully withdrawn.
  3. (c) When 50% of the amount of goodwill is withdrawn.
  4. (d) When goodwill is paid privately.
TS Grewal Class 12 Admission of a Partner Question 42

Solution

Solution of Q 42 Admission of a Partner TS Grewal 2022-23
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About this solution

This is Chapter 5 Admission of Partner of TS Grewal Edition 2022-23.

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 Accountancy Board Exam.

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