Solution of Q 28 Admission of Partner TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 28, Chapter 5 Admission of a Partner, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 28
Ram and Mohan are partners in a firm sharing profits in the ratio of 3 : 2. On 1st April, 2022, they admit Sohan as a partner for 1/4th share in the profits. Sohan contributed following assets towards his capital and for his share of goodwill:
Stock ₹ 60,000; Debtors ₹ 80,000; Land ₹ 1,00,000, Plant and Machinery ₹ 40,000.
On the date of admission of Sohan, the goodwill of the firm was valued at ₹ 6,00,000.
Pass necessary Journal entries in the books of the firm on Sohan’s admission if:
- (i) Partners do not withdraw the share of goodwill.
- (ii) Partners withdraw half of their share of goodwill.
Solution
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About this solution
This is Chapter 5 Admission of Partner of TS Grewal Edition 2022-23.
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 Accountancy Board Exam.
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