Question 21 Chapter 5 of +2- Part-

Question 21 Chapter 5 of +2-Part-1

21.( NPS/Goodwill brought in cash )Bhushan, Gobin, and Rajan are partners in the 5:3:2 ratio. Sahil is admitted for 1/10 share which he acquires equally from Bhushan and Rajan. Sahil brings Rs. 50,000 including his share of goodwill Rs. 10,000. Pass journal entries and calculate the new ratio.

The solution of Question 21 Chapter 5 of +2 Part-1: – 

Journal
DateParticulars
L.F.DebitCredit
2019     
i)Bank A/cDr. 50,000 
 To Sahil’s Capital A/c   40,000
 To Premium A/c   10,000
 (Being capital and premium brought by Sahil )   
     
ii)Premium A/cDr. 10,000 
 To Bhushan’s Capital A/c  5,000
 To Rajan’s Capital A/c  5,000
 (Being goodwill distributed in sacrificing ratio)   
     

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 21 Chapter 5 of +2 Part-1 - USHA Publication  12 Class Parat - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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