DK Goel Solutions Q 52 Chapter 3 Admission of a Partner Class 12 CBSE [2023-24]
Step-by-step solution of Question 52, Chapter 3 Admission of a Partner, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 52
A and B were partners in a firm sharing profits in the ratio of 7 : 3. On 1-3-2022, they admitted C as a new partner for 1/6th share in the profits of the firm. They fixed the new profit sharing ratio as 3 : 2 : 1. The P & L A/c on the date of admission showed a balance of ₹ 20,000 (Cr.). The firm also had a reserve of ₹ 1,50,000. C is to bring ₹ 40,000 as premium for his share of goodwill.
Showing your calculations clearly, pass necessary journal entries to record the above transactions.
Solution
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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.
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