ADMISSION OF A PARTNER | Q35, Q36, Q37, Q38, Q39 | 2024 | TS GREWAL | ACCOUNTS | CLASS 12
: A and B are partners capital of Rs. 60,000 and Rs. 1,20,000 | Anil and Sunil are partners, They admitted Charu | Vanshika and Shikha were partners, They admitted Nisha | ADMISSION OF A PARTNER | Q35, Q36, Q37, Q38, Q39 | 2024 | TS GREWAL | ACCOUNTS | CLASS 12 | MANAN MALIK | 2024 / @mananmalik_commerce Question 35: A and B are partners in a firm with capital of Rs. 60,000 and Rs. 1,20,000 respectively. They decide to admit C into the partnership for 1/4th share in the future profits. C is to bring in a sum of Rs. 70,000 as his capital. Calculate amount of goodwill. (AI 2008 C) Question 36: Anil and Sunil are partners in a firm with fixed capitals of Rs 3,20,000 and Rs 2,40,000 respectively. They admitted Charu as a new partner for 1/4th share in the profits of the firm on 1st April, 2012. Charu brought Rs 3,20,000 as her share of capital. Calculate value of goodwill and record necessary journal entries. Question 37: Vanshika and Shikha were partners in a firm with capitals of ₹ 1,00,000 and ₹ 80,000 respectively. They admitted Nisha on 1st April, 2022 as a new partner for 1/4th share in the future profits of the firm. Nisha brought ₹ 90,000 as her capital. Nisha acquired her share equally from Vanshika and Shikha. Calculate the value of goodwill of the firm and pass necessary Journal entries on Nisha’s admission, assuming that Nisha did not bring her share of goodwill premium in cash. Show the working clearly. [Ans.: Goodwill of the firm (Hidden) – ₹ 90,000; Nisha’s Share in Goodwil – ₹ 22,500. Question 38: X and Y are partners with capitals of ` 50,000 each. They admit Z as a partner for 1/4th share in the profits of the firm. Z brings in ` 80,000 as his share of capital. The Profit and Loss Account showed a credit balance of ` 40,000 as on date of admission of Z. Give necessary journal entries to record the goodwill. Question 39: Asin and Shreyas are partners in a firm. They admit Ajay as a new partner with 1/5th share in the profits of the firm. Ajay brings ` 5,00,000 as his share of capital. The value of the total assets of the firm was ` 15,00,000 and outside liabilities were valued at ` 5,00,000 on that date. Give necessary Journal entry to record goodwill at the time of Ajay's admission. Also show your workings. (AI 2013) 2024 | CLASS 12 | ADMISSION | TS GREWAL | Partnership 2024 Class 12 Partnership Accounts Class 12 Accounts Admission of a Partner Class 12 admission of partner 2024 Questions admission of a partner ts grewal solutions admission of a partner class 12 solutions admission of a partner class 12 explanation how to do admission of a partner class 12 admission of a partner class 12 balance sheet admission of a partner class 12 question 35 admission of a partner class 12 up board admission of a partner class 12 question 36 admission of a partner class 12 problems admission of a partner class 12 question 37 admission of a partner class 12 question 38 admission of a partner class 12 question 39 class 12 accounts solutions class 12 accounts chapter 4 hidden goodwill 00:00 Concept of Hidden Goodwill 03:31 Question 35 - A and B are partners 05:15 Question 36 - Anil and Sunil are partners 10:18 Question 37 - Vanshika and Shikha are partners 14:37 Question 38 - X and Y are partners 18:45 Question 39 - Asin and Shreyas are partners #commerce #class12 #cbse #admissionofapartner #admission #class12accounts #accountancy #accounts #accounting #tsgrewal2024 #partnershipfundamentals #solution #tsgrewalsolutions #partnership #commerce #class12 #cbse #tsgrewalsolutions #tsgrewal2024 #tsgrewal #tsgrewalsolution #account #accounts #accountancy #accountssolution
