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[ISC] Q. 26 Solution of Admission of Partner TS Grewal ISC 2023-24 Edition

Question 26 of 89Chapter 3Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 26, Chapter 3 Admission of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 26

Sachin and Kapil are partners sharing profits and losses in the ratio of 2 : 3. On 1st April, 2023, they admit Amit into partnership for 1/4th share in profits. Amit brought ₹ 2,00,000 for his capital and ₹ 36,000 as premium for his share in the profits. The new profit-sharing ratio of Sachin, Kapil and Amit is agreed to be 3 : 3 : 2. Sachin and Kapil withdraw the premium for goodwill from the business.

Pass necessary Journal entries when the firm follows Fixed Capital Accounts Method.

TS Grewal Class 12 Admission of Partner Question 26

Solution

Solution of Q 26 Admission of Partner TS Grewal 2023-24 part 1
Solution of Q 26 Admission of Partner TS Grewal 2023-24 part 2
Stuck on this chapter?Watch it explained in the Class 12 Accounts video courseEvery chapter, step by step, by Vijay Adarsh (23 years teaching).Watch free demo
Solution of Q 26 Admission of Partner TS Grewal 2023-24 part 3
Solution of Q 26 Admission of Partner TS Grewal 2023-24 part 4
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About this solution

This is Chapter 3 Admission of a Partner of ISC TS Grewal Edition 2023-24.

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 Guidelines Issued by the ISC Council. Just follow our presentation of solutions and score good marks in Accountancy Exam.

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