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[ISC] Q. 53 Solution of Admission of Partner TS Grewal ISC 2023-24 Edition

Question 53 of 89Chapter 3Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 53, Chapter 3 Admission of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 53

Shabir and Jiwan are partners in a firm sharing profits and losses in the ratio of 3 : 2. Joy was admitted for 1/3rd share in the profits. On the date of Joy’s admission, Balance Sheet of Shabir and Jiwan showed General Reserve of ₹ 1,60,000 and a balance of ₹ 1,20,000 in Profit & Loss Account on assets side of the Balance Sheet. Pass necessary Journal entries on the treatment of these items on Joy’s admission.

TS Grewal Class 12 Admission of Partner Question 53

Solution

Solution of Q 53 Admission of Partner TS Grewal 2023-24
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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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