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Solution of Q 38 Admission of Partner TS Grewal 2023-24 [CBSE]

Question 38 of 86Chapter 4Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 38, Chapter 4 Admission of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.

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Question 38

Asin and Shreyas are partners in a firm. They admit Ajay as a new partner with 1/5th share in the profits of the firm. Ajay brings ₹ 5,00,000 as his share of capital. The value of total assets of the firm was ₹ 15,00,000 and outside liabilities were valued at ₹ 5,00,000 on that date. Give necessary Journal entry to record goodwill at the time of Ajay’s admission. Also show your workings.

TS Grewal Class 12 Admission of a Partner Question 38

Solution

Solution of Q 38 Admission of a Partner TS Grewal 2023-24 part 1
Solution of Q 38 Admission of a Partner TS Grewal 2023-24 part 2
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About this solution

This is Chapter 4 Admission of Partner of 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 CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.

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