Question 1

Q.No.1 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionAnil and Ankit are partners sharing profits in the ratio of 3 : 2. Anita is admitted for 1/5th share in the profits. Calculate new profit sharing ratio of the partners.SolutionWorking NotesItemWorkingAmount (₹)1. Anita's share1/52. Remaining share for the old partners1 − 1/54/53. Anil's new share4/5 × 3/512/254. Ankit's new share4/5 × 2/58/255. New profit sharing ratio (Anil : Ankit : Anita)12/25 : 8/25 : 1/5 × 5/512 : 8 : 5Answer: New ratio of Anil, Ankit and Anita = 12 : 8 : 5.

Question 2

Q.No.2 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionDev and Abhay sharing profits in the ratio of 7 : 3 admit Ashok for 3/7th share in the firm which he gets 2/7th from Dev and 1/7th from Abhay. Calculate new profit-sharing ratio.SolutionWorking NotesItemWorkingAmount (₹)1. Dev's new share7/10 − 2/7 = (49 − 20)/7029/702. Abhay's new share3/10 − 1/7 = (21 − 10)/7011/703. Ashok's share3/7 = 30/704. New profit sharing ratio (Dev : Abhay : Ashok)29/70 : 11/70 : 30/7029 : 11 : 30Answer: New ratio of Dev, Abhay and Ashok = 29 : 11 : 30.

Question 3

Q.No.3 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionAmrit and Amar were partners sharing profits in the ratio of 3 : 2. They admitted Amit and Anita as new partners. Amrit surrendered 1/3rd of his share in favour of Amit and Amar surrendered 1/4th of his share in favour of Anita. Calculate new profit-sharing ratio of Amrit, Amar, Amit and Anita.SolutionWorking NotesItemWorkingAmount (₹)1. Amit's share (1/3 of Amrit's 3/5)3/5 × 1/31/52. Anita's share (1/4 of Amar's 2/5)2/5 × 1/41/103. Amrit's new share3/5 − 1/52/54. Amar's new share2/5 − 1

Question 4

Q.No.4 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionRed and White are two partners sharing profits and losses equally. They admit Black as a new partner for 25% share. In future, profit-sharing ratio between Red and White will be 3 : 2. Determine new profit sharing ratio.SolutionWorking NotesItemWorkingAmount (₹)1. Black's share25% = 25/1001/42. Remaining share1 − 1/43/43. Red's new share (3/5 of 3/4)3/4 × 3/59/204. White's new share (2/5 of 3/4)3/4 × 2/53/105. New profit sharing ratio (Red : White : Black)9/20 : 6/20 : 1/4 × 5/59 : 6 : 5

Question 5

Q.No.5 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionBharati and Astha were partners sharing profits in the ratio of 3 : 2. They admitted Dinkar as a new partner for 1/5th share in future profits of the firm, which he got equally from Bharati and Astha. Calculate the new profit sharing ratio of Bharati, Astha and Dinkar.SolutionWorking NotesItemWorkingAmount (₹)1. Each partner gives up (1/5 ÷ 2)1/102. Bharati's new share3/5 − 1/10 = (6 − 1)/101/23. Astha's new share2/5 − 1/10 = (4 − 1)/103/104. New profit sharing ratio (Bharati : Astha : D

Question 6

Q.No.6 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionFind new profit sharing ratio:(i) Kishore, Lata and Asha are partners sharing profits and losses in the ratio of 2/6 : 3/6 : 1/6. They admit Bhappi for 1/6th share. Asha is to retain her original share.(ii) Akhil, Nikhil and Adil are partners sharing profits and losses in the ratio of 3 : 2 : 5. They admit Debu and give him 1/5th share. This share is contributed by them in the ratio of 1 : 1 : 3.SolutionCase (i)Working NotesItemWorkingAmount (₹)1. Share left for the old partners1 − 1/65/

Question 7

Q.No.7 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionRaman and Kamran are partners sharing profits in the ratio of 3 : 2. Darpan is admitted to the partnership for 1/5th share in future profits. Calculate new profit sharing ratio and the sacrificing ratio.SolutionWorking NotesItemWorkingAmount (₹)1. Share left for the old partners1 − 1/54/52. Raman's new share4/5 × 3/512/253. Kamran's new share4/5 × 2/58/254. New profit sharing ratio (Raman : Kamran : Darpan)12/25 : 8/25 : 1/5 × 5/512 : 8 : 5Raman sacrifices3/5 − 12/253/25Kamran sacrifices

Question 8

Q.No.8 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionReema and Sahil are partners sharing profits in the ratio of 3 : 2. Gaurav is admitted as a partner. The new profit sharing ratio among them is 4 : 3 : 2. Calculate the sacrificing ratio.SolutionWorking NotesItemWorkingAmount (₹)New shares of Reema, Sahil and Gaurav4/9, 3/9, 2/91. Reema sacrifices3/5 − 4/9 = (27 − 20)/457/452. Sahil sacrifices2/5 − 3/9 = (18 − 15)/453/453. Sacrificing ratio (Reema : Sahil)7/45 : 3/457 : 3Answer: Sacrificing ratio of Reema and Sahil = 7 : 3.

Question 9

Q.No.9 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionPuneet and Tarun are partners sharing profits and losses in the ratio of 3 : 2. They admit Simran as a partner who acquires 2/7th from Puneet and 1/7th from Tarun as her share. Calculate new profit sharing ratio and sacrificing ratio.SolutionWorking NotesItemWorkingAmount (₹)1. Sacrificing ratio (Puneet : Tarun)2/7 : 1/72 : 12. Puneet's new share3/5 − 2/7 = (21 − 10)/3511/353. Tarun's new share2/5 − 1/7 = (14 − 5)/359/354. Simran's share2/7 + 1/73/7 = 15/355. New profit sharing ratio (Pu

Question 10

Q.No.10 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionX and Y are partners sharing profits/losses in the ratio of 3 : 2. Z is admitted for 1/4th share. X and Y decide to share equally in future. Find the sacrificing ratio and new profit sharing ratio.SolutionWorking NotesItemWorkingAmount (₹)1. Share left for X and Y1 − 1/43/42. Each of X and Y gets (they share equally)3/4 × 1/23/83. New profit sharing ratio (X : Y : Z)3/8 : 3/8 : 1/4 × 2/23 : 3 : 24. X sacrifices3/5 − 3/8 = (24 − 15)/409/405. Y sacrifices2/5 − 3/8 = (16 − 15)/401/406. Sacr

Question 11

Q.No.11 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionAnchal and Bharat are partners sharing profits and losses in the ratio of 7 : 3. Anchal gave 1/7th from her profit share and Bharat 1/3rd of his profit share to Chitra, a new partner. Calculate the New Profit-sharing Ratio and the Sacrificing Ratio.SolutionWorking NotesItemWorkingAmount (₹)1. Anchal sacrifices7/10 × 1/71/102. Bharat sacrifices3/10 × 1/31/103. Chitra's share1/10 + 1/101/54. Anchal's new share7/10 − 1/103/55. Bharat's new share3/10 − 1/101/56. New ratio (Anchal : Bharat :

Question 12

Q.No.12 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionXena and Yana are partners in a firm. Zeesha is admitted as a new partner and the new profit sharing ratio among the three partners is decided at 1 : 2 : 2. The sacrificing ratio between Xena and Yana is 4 : 1. Calculate old profit sharing ratio.SolutionWorking NotesItemWorkingAmount (₹)New shares of Xena, Yana and Zeesha1/5, 2/5, 2/51. Xena sacrifices (4/5 of Zeesha's 2/5)2/5 × 4/58/252. Yana sacrifices (1/5 of Zeesha's 2/5)2/5 × 1/52/253. Xena's old share = new share + sacrifice1/5 + 8

Question 13

Q.No.13 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionGaurav and Anshul are partners sharing profits and losses in the ratio of 4 : 1. They admit Chhaya into partnership and decide that the profit sharing ratio between Anshul and Chhaya shall be same as between Gaurav and Anshul. Calculate new profit sharing ratio and the sacrificing ratio.SolutionWorking NotesItemWorkingAmount (₹)1. Gaurav : Anshul stays4 : 12. Anshul : Chhaya is the same as Gaurav : Anshul4 : 13. So Chhaya's share is 1/4 of Anshul's; new ratio Gaurav : Anshul : Chhaya4 :

Question 14

Q.No.15 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionAtul and Hema are partners sharing profits and losses in the ratio of 1 : 3. On 1st April, 2022, they admit Sajid as a partner. Atul gives 1/4 of his share to Sajid while Hema gives him 3/16 from her share.On the date of Sajid's admission, the assets of a firm, including its non-trade investments of ₹ 10,000, are ₹ 1,70,000. The average profit of the firm is ₹ 16,000 and its goodwill, by capitalising the average profit, is ₹ 60,000. The normal rate of return of the business is 10%.You ar

Question 15

Q.No.16 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionPiyush and Deepika are partners in a firm sharing profits and losses in the ratio of 3 : 2. They admit Seema as a partner for 1/5th share. Seema takes her share from Piyush and Deepika in the ratio of 2 : 3. Goodwill of the firm has been valued at ₹ 50,000. Seema paid ₹ 10,000 privately to Piyush and Deepika as her share of goodwill. What will be the Journal entry in the books of the firm?SolutionWorking NotesItemWorkingAmount (₹)Seema's share of goodwill50,000 × 1/510,000Amount paid pri

Question 16

Q.No.17 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionEmmie and Florence are partners sharing profits and losses in the ratio of 4 : 1. Glen is admitted as a partner for which he pays ₹ 10,000 as premium for goodwill and in future Emmie, Florence and Glen decide to share profits and losses in the ratio of 2 : 1 : 1 respectively.Pass necessary Journal entries in the books of the firm.SolutionWorking NotesItemWorkingAmount (₹)1. Glen's share1/42. Emmie: old − new4/5 − 2/4 = (16 − 10)/206/20 (sacrifice)3. Florence: old − new1/5 − 1/4 = (4 − 5)

Question 17

Q.No.18 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionBharat and Bhushan are partners in a firm sharing profits in the ratio of 2 : 1. On 1st April, 2024, their capitals are ₹ 2,00,000 and ₹ 1,00,000 respectively. On that date, they admitted Smriti as a partner for 1/5th share in profits. New profit sharing ratio of Bharat, Bhushan and Smriti will be 3 : 1 : 1. Smriti brought ₹ 80,000 as her capital and ₹ 30,000 as her share of premium for goodwill.Pass Journal entries and prepare Capital Accounts of all the Partners.SolutionWorking NotesIt

Question 18

Q.No.19 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionRita and Nita are partners sharing profits and losses in the ratio of 2 : 5. They admit Madhuri on the condition that she will bring ₹ 14,000 as her share of goodwill in cash. Madhuri's share in future profits or losses will be 1/4th. What will be new profit sharing ratio and what amount of goodwill brought by Madhuri will be received by Rita and Nita?SolutionWorking NotesItemWorkingAmount (₹)1. Share left for Rita and Nita1 − 1/43/42. Rita's new share3/4 × 2/73/143. Nita's new share3/4

Question 19

Q.No.20 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionVeena and Soma are partners in a firm. They admit Sara on 1st April, 2022, for 1/4 share in the profits of the firm.On an average, the profits earned by Veena and Soma are ₹ 21,000. The average capital employed by the firm is ₹ 1,50,000. The normal rate of return in the industry is 10%.It is decided to value goodwill on the basis of four years' purchase of profits in excess of profits @ 10% on the money invested.You are required to: (i) Calculate Goodwill of the firm. (ii) Pass the Journ

Question 20

Q.No.21 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionSeerat and Manbir are partners in a firm sharing profits and losses in the ratio of 3 : 2. A new partner Anya is admitted. Seerat surrenders 1/5th of her share and Manbir 2/5th of his share in favour of Anya. For the purpose of Anya's admission, goodwill of the firm is valued at ₹ 75,000 and Anya brings her share of goodwill in cash which is retained in the firm's books. Journalise the above transactions.SolutionWorking NotesItemWorkingAmount (₹)1. Seerat surrenders3/5 × 1/53/252. Manbir

Item	Working	Amount (₹)
1. Anita's share		1/5
2. Remaining share for the old partners	1 − 1/5	4/5
3. Anil's new share	4/5 × 3/5	12/25
4. Ankit's new share	4/5 × 2/5	8/25
5. New profit sharing ratio (Anil : Ankit : Anita)	12/25 : 8/25 : 1/5 × 5/5	12 : 8 : 5

T.S. Grewal ISC Class 12 Accountancy Solutions Chapter 3 - Admission of a Partner

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Q.No.1 | Chapter 3 – Admission of a Partner | T.S. Grewal ISC Class 12 Solution

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