DK Goel Solutions Q 71 Chapter 3 Admission of a Partner Class 12 CBSE [2023-24]
Step-by-step solution of Question 71, Chapter 3 Admission of a Partner, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 71
Following figures have been extracted from the books of X and Y who share profit and losses in the ratio of 7 : 3.
- X’s Capital — ₹ 3,00,000
- Y’s Capital — ₹ 1,50,000
- Reserve — ₹ 1,60,000
- Profit & Loss Account — ₹ 40,000
- Advertisement Expenditure — ₹ 10,000
On this date, they admit Z for 1/5th share and the new profit sharing ratio is agreed at 3 : 1 : 1. Z brings in ₹ 3,00,000 as his Capital. Pass journal entry for recording goodwill.
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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