Solution of Q 52 Admission of Partner TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 52, Chapter 4 Admission of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 52
X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 1st April, 2023, they admit Z as a partner for 1/5th share in profits. On that date, there was a balance of ₹ 1,50,000 in General Reserve and a debit balance of ₹ 20,000 in the Profit & Loss Account of the firm. Pass necessary Journal entries regarding adjustment of reserve and accumulated profit/loss.
Solution
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About this solution
This is Chapter 4 Admission of Partner of 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.
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