DK Goel Solutions Q 57 Chapter 3 Admission of a Partner Class 12 CBSE [2023-24]
Step-by-step solution of Question 57, Chapter 3 Admission of a Partner, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 57
Charu and Deepika were partners sharing profits in the ratio of 3 : 2. They admitted Esha, as a new partner and the new ratio is agreed at 4 : 3 : 2. On the date of Esha’s admission, the Balance Sheet of Charu and Deepika disclosed General Reserve ₹ 1,20,000; Dr. balance in Profit & Loss Account ₹ 40,000; Investments ₹ 2,00,000 and Investment Fluctuation Reserve ₹ 60,000.
The following was agreed upon Eshas’ admission :
- (i) Esha will bring ₹ 3,00,000 as her Capital and her share of goodwill premium in cash.
- (ii) Goodwill of the firm be valued ₹ 1,80,000.
- (iii) The market value of investments was ₹ 2,30,000.
Pass the necessary journal entries.
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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