[ISC] Q. 76 Solution of Admission of Partner TS Grewal ISC 2023-24 Edition

Avijit and Binay are in partnership sharing profits and losses in the ratio of 3 : 2. The capitals of Avijit and Binay after adjustments are ₹ 2,40,000 and ₹ 1,80,000 respectively. They admit Bishu as partner on his contribution of ₹ 1,05,000 as capital for 1/5th share of profits to be acquired equally from both Avijit and Binay. The capital accounts of old partners are to be adjusted on the basis of the proportion of Bishu’s Capital to his share in the business. Calculate the amount of cash to be paid or brought in by the old partners for the purpose.