DK Goel Solutions Q 73 Chapter 3 Admission of a Partner Class 12 CBSE [2023-24]
Step-by-step solution of Question 73, Chapter 3 Admission of a Partner, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 73
A, B and C are partners sharing profits and losses in the ratio of 6 : 3 : 1. Their respective capitals are A ₹ 5,00,000; B ₹ 4,00,000 and C ₹ 2,00,000. They decide to admit D into partnership and the new profit sharing ratio is agreed at 3 : 3 : 3 : 1.
D brings ₹ 1,50,000 as his capital and his share of goodwill in cash. At the time of D’s admission :
- (a) The firm had a Workmen Compensation Reserve of ₹ 1,00,000 against which there was a claim of ₹ 1,20,000.
- (b) Advertisement Suspense A/c (Dr.) balance appeared in their books at ₹ 30,000.
- (c) Contingency Reserve appeared at ₹ 60,000.
Solution
All questions of Chapter 3
Orange = this question · Grey = already opened.
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.
Stuck on this question? Ask Vijay Sir
Be the first to ask on this question.