Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)- USHA Publication Class +2 – Solution

Admission of Partner referred to entering a new partner or partners in the partnership firm for the share of profit and paying off his or their share of the firm’s goodwill and capital. When the firm needs more funding or services/knowledge to grow their business then they approach the new partner(s) against share in the profit of the firm with the consent of all old partners. 

What is the Admission of Partner: –

The admission of the partner refers to the situation where an individual joins the existing partnership firm and the old partners are agree to sacrifice their share of profit. This is the mode of reconstitution of Partnership Because, with the admission of a new partner, there is a need to create a new agreement/deed between all partner including new partner and ends the existing agreement/deed. 

There will be New profit sharing ratio among all partners because all(minimum one) old partners will sacrifice some portion of their profit share in the firm and the new partner will get some portion of the share of profit as per the deal with the old partners. 

Check out the full article: –

Admission of Partner – Effects and Adjustments

Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)- USHA Publication Class +2 – Solution

Question wise solution of the all Questions of Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)- USHA Publication Class +2 – Solutions are shown below: –

Question 01 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 01 Chapter 5 of +2-Part-1 01. (NPS) X and Y are partners in 8:5 ratio. Z is admitted for ...

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Question 02 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 02 Chapter 5 of +2-Part-1 2. (NPS)Raman and Daman are partners sharing profits 25% and 75%. Pawan was admitted ...

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Question 03 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 03 Chapter 5 of +2-Part-1 3. (NPS)Badal, Advani and Navjot are partners in 3/10, 9/20 and ¼. Sonia was ...

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Question 04 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 04 Chapter 5 of +2-Part-1 4. X and Y are partners in a firm sharing profit in the ratio ...

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Question 05 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 05 Chapter 5 of +2-Part-1 5. (NPS) A and B are partners sharing profit and losses in the proportions ...

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Question 06 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 06 Chapter 5 of +2-Part-1 6. (NPS) X and Y are sharing profit in the ratio of 7:3. they ...

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Question 07 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 07 Chapter 5 of +2-Part-1 7. (NPS) X and Y shared profit in the ratio of 7:3 . Z ...

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Question 08 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 08 Chapter 5 of +2-Part-1 8. (NPS in different cases) Calculate the new ratios of partners in the following ...

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Question 09 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 09 Chapter 5 of +2-Part-1 9. (New Ratio) X and Y are partners in equal proportion . Z is ...

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Question 10 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 10 Chapter 5 of +2-Part-1 10. (NPS/Sacrifice Ratio) X and Y are partners in 2:1. Z is admitted for ...

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Question 11 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 11 Chapter 5 of +2-Part-1 11. (NPS/ Sacrifice Ratio) A, B and C are partners in equal ratio. A ...

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Question 12 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 12 Chapter 5 of +2-Part-1 12. (NPS in different cases) A and B are partners in a firm sharing ...

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Question 13 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 13 Chapter 5 of +2-Part-1 13. (New Profit Sharing Ratio) Bat and Ball are partners in a 2:3 ratio ...

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Question 14 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 5 of +2-Part-1 14. (Sacrifice ratio) L and M are partners sharing profits in the ratio of ...

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Question 15 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 5 of +2-Part-1 15. (NPS) X and Y are partners in a firm sharing profits and losses ...

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Question 16 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 5 of +2-Part-1 16. (Different cases of NPS) (i)Singh and Pandit are partners in a 4:1 ratio ...

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Question 17 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 5 of +2-Part-1 17.(New Ratio) X, Y, and Z are partners in the 5:3:3 ratio. They admitted ...

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Question 18 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 18 Chapter 5 of +2-Part-1 18. (NPS) X , Y and Z are partners in 7:3:2. O is admitted ...

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Question 19 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Parat – 1

Question 19 Chapter 5 of +2-Part-1 19. (NPS ) Singh, Gupta and Lal are partners in a firm, sharing profits ...

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Question 20 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 20 Chapter 5 of +2-Part-1 20.( Goodwill brought in cash ) X and Y are partners in a 2:1 ...

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Question 21 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

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 ...

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Question 22 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 5 of +2-Part-1 22.( NPS/Goodwill brought in cash )A, B, and C are partners in ratio 3:2:1 ...

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Question 23 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 23 Chapter 5 of +2-Part-1 23.(Goodwill partially withdrawn )A and B are partners in 3:2 ratio. They admitted C ...

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Question 24 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 24 Chapter 5 of +2-Part-1 24.(Goodwill partially withdrawn )Behari and Punjabi are partners in ratio 2:3 . Haryanvi is ...

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Question 25 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 5 of +2-Part-1 25.(Profits at the end of the year are given) P and S are partners ...

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Question 26 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 5 of +2-Part-1 26.( Different cases of goodwill) A and B shared profits in the proportion of ...

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Question 27 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Parat – 1

Question 27 Chapter 5 of +2-Part-1  27. (New Partner doesn't bring G/W in Cash) X, Y and Z am partners ...

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Question 28 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 28 Chapter 5 of +2-Part-1 28. (New Partner doesn't bring G/W in Cash) A and B are partners Sharing ...

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Question 29 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 29 Chapter 5 of +2-Part-1 29. (goodwill is partly paid privately and partly through books ) A and B ...

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Question 30 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 30 Chapter 5 of +2-Part-1 30. (Partner Partly brings the G/W) X, Y, and Z were partners sharing profits ...

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Question 31 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 5 of +2-Part-1 31. (Goodwill is to be calculated and not brought in cash) A and B ...

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Question 32 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 32 Chapter 5 of +2-Part-1 32. (Goodwill is brought in-kind) P and Q are partners in a 3: 2 ...

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Question 33 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 33 Chapter 5 of +2-Part-1 33. (Goodwill is brought in-kind) Manish and Satish are sharing profits in 4 : ...

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Question 34 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 34 Chapter 5 of +2-Part-1 34. (Goodwill is brought in kind) X, Y and Z were doing business in ...

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Question 36 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 36 Chapter 5 of +2-Part-1 36. (Hidden Goodwill) A and B are partners with capitals of Rs. 8,000 and ...

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Question 37 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 37 Chapter 5 of +2-Part-1 37. (Comprehensive) A, B and C are partners in 3 : 2: 1 ratio ...

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Question 38 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 38 Chapter 5 of +2-Part-1 38. (Revaluation Entries) Pass Journal Entries for the following revaluations.(a) Stockk Rs. 12,000 was ...

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Question 39 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 39 Chapter 5 of +2-Part-1 39. (Revaluation Entries) Record the folowing in Journal.(a) A claim of Rs. 5,000 against ...

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Question 40 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 40 Chapter 5 of +2-Part-1 40. ( Revaluation A/c/Partners Cap. A/c/B/S) The following was the Balance sheet of A ...

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Question 41 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 41 Chapter 5 of +2-Part-1 41. (Goodwill withdraw by Old Partner) The Balance sheet of A and B who ...

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Question 42 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 42 Chapter 5 of +2-Part-1 42. Revaluation A/c/Partner‘s Cap A/c/B/S) Thr following is the balance sheet of Gupta and ...

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Question 43 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 43 Chapter 5 of +2-Part-1 43. (Goodwill is not brought in Cash) The following was the balance sheet of ...

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Question 44 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 44 Chapter 5 of +2-Part-1 44. Revaluation/Capital A/c/B/S/GST) Usha and Asha are partners in a firm sharing profits in ...

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Question 45 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 45 Chapter 5 of +2-Part-1 45. ( Average Profit Method) The balance sheet of A and B who share ...

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Question 45 A Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 45 A Chapter 5 of +2-Part-1 45 A. (HOTS/MEMORANDUM revaluation Account) A and B are carrying on business in ...

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Question 46 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 46 Chapter 5 of +2-Part-1 46. Revaluation A/c/Partner‘s Cap A/c/B/S) The following is the balance sheet of A and ...

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Question 47 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 47 Chapter 5 of +2-Part-1 47. ( Necessary Adjusting Entries) The Balance sheet of Ram and Shyam who share ...

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Question 48 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 48 Chapter 5 of +2-Part-1 48. (Revaluation A/c/Partner‘s Cap A/c/B/S) L and M share the profits of a business ...

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Question 49 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 49 Chapter 5 of +2-Part-1 49. (Revaluation A/c/Partner‘s Cap A/c/B/S) L and M share the profits of a business ...

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Question 50 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 50 Chapter 5 of +2-Part-1 50. (Provision for a discount on Creditors ) the balance sheet of X& Y ...

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Question 51 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 51 Chapter 5 of +2-Part-1 51. (Journal /partner’s cap. A/c/B/S) the balance sheet of Ashish, Achyut, and Akhilesh who ...

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Question 52 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 52 Chapter 5 of +2-Part-1 52. (Hidden Goodwill)Deepika & Rajshree are partners in the firm sharing profits & losses ...

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Question 53 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 53 Chapter 5 of +2-Part-1 53. (Hidden Goodwill)David & Bimal are partners in the firm sharing profits & losses ...

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Question 54 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 54 Chapter 5 of +2-Part-1 54. ( Investment taken over by old partner) A & B are sharing profits ...

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Question 55 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 55 Chapter 5 of +2-Part-1 55. (Goodwill is not brought in Cash) The following was the balance sheet of ...

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Question 56 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 56 Chapter 5 of +2-Part-1 56. (Adjustment of Capital) A and B are in partnership sharing profit and loss ...

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Question 57 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 57 Chapter 5 of +2-Part-1 57. (Capital to be adjusted on basis of NPS) Sun and Moon are partners ...

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Question 58 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 58 Chapter 5 of +2-Part-1 58. (Adjustment of capital on the basis of NPS) The following is the balance ...

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Question 59 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 59 Chapter 5 of +2-Part-1 59. (Adjustment of the capital on the basis of NPS ) a & b ...

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Question 60 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 60 Chapter 5 of +2-Part-1 60. (Adjustment of Capital on basis of New Partner's Share) A, B and C ...

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Question 61 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 61 Chapter 5 of +2-Part-1 61. ( Capital to be adjusted on the basis of New Partner's Share) A ...

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Question 62 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 62 Chapter 5 of +2-Part-1 62. (Adjustment of the capital/goodwill/revaluation A/c/ partner’s capital A/c balance sheet) Raghu & Rishu ...

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Question 63 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 63 Chapter 5 of +2-Part-1 63. (revaluation A/c/Partner’s Cap. A/c/B/S) A & B are partners sharing profits & losses ...

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Question 64 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 64 Chapter 5 of +2-Part-1 64. ( revaluation A/c/ Partner’s Cap. A/c/B/S) Ram & Rahim were partners in the ...

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Question 65 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 65 Chapter 5 of +2-Part-1 65. (Journal/B/S) Below is the balance sheet of Krishna & Sudama who shared profit ...

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Question 66 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 66 Chapter 5 of +2-Part-1 66. (Adjustment of the capital/goodwill/revaluation A/c/ partner’s capital A/c balance sheet) A firm has ...

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Question 67 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 67 Chapter 5 of +2-Part-1 67. ( Adjustment of capital revaluation A/c/ Partner’s Cap. A/c/B/S) Ram , Rahim & ...

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Question 68 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 68 Chapter 5 of +2-Part-1 68. (Adjustment of the capital/goodwill/revaluation A/c/ partner’s capital A/c balance sheet) The following is ...

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Question 69 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 69 Chapter 5 of +2-Part-1 69. (Adjustment of the capital to be made by Cash ) the balance sheet ...

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