DK Goel Solutions Q 55 Chapter 3 Admission of a Partner Class 12 CBSE [2023-24]
Step-by-step solution of Question 55, Chapter 3 Admission of a Partner, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 55
P and Q were partners sharing profits in the ratio of 2 : 1. On 1st April, 2023, they admitted R as a new partner and the new profit sharing ratio of P, Q and R is agreed at 3 : 1 : 1. R brought in ₹ 2,00,000 as his capital and ₹ 60,000 as his share of premium for goodwill.
On the date of R’s admission, the Balance Sheet of P and Q showed a credit balance of ₹ 45,000 in Profit and Loss A/c and Workmen Compensation Reserve of ₹ 80,000. It was agreed that there was a claim of Workmen Compensation for ₹ 50,000.
Pass necessary Journal entries on R’s admission.
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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