T S Grewal Solutions 2026-27 [Class 12] – Admission of a Partner – Q 21 to 30

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Solution for Q 21 to 30 of Chapter 4 of T S Grewal Class 12 Accountancy 2026-27 are given below. The Chapter name is Admission of a Parnter from Partnership Accounts class 12. These Solutions are based on topics treatment of goodwill at the time of admission of a partner, journal entries for goodwill at the time of admission of a partner, Calculation of new partner share of goodwill, journal entries for goodwill when new partner brings his share of goodwill in kind

Working notes are given with each solution. These help in understanding the steps and are also important for board exams as marks are given for steps.

These solutions are also useful for CA Foundation, CS Foundation and CMA Foundation students. The solutions will be helpful for students as well as teachers teaching class 12 accounts.

Question 21

Old Profit Sharing Ratio

Gold	Silver
2	5

Copper Admitted for

1/4

Remaining Share

(1 - 1/4)

3/4

Gold's new share	(3/4 X 2/7)	3/14
Silver's new share	(3/4 X 5/7)	15/28

New Profit Sharing ratio

Gold	Silver	Copper
3/14	15/28	1/4
6	15	7

Sacrificing ratio will be same as old profit sharing ratio

Gold	Silver	Total
2	5	7

Total goodwill brought by Copper	14000

Gold will get	4000	(14000 X 2/7)
Silver will get	10000	(14000 X 5/7)

▶ Video Solution: Coming Soon

Question 22 (a)

Journal Entries

Note :

Sacrificing ratio of old partners will remain same as old profit sharing ratio

▶ Video Solution: Coming Soon

Question 22 (b)

Sacrificing Ratio

B	C	Total
1/6	1/12
2	1	3

Journal Entries

Note : Sacrificing ratio of B and C is 2:1. It is calculated from the share sacrificed by
	them of 1/6 and 1/12 as per question

▶ Video Solution: Coming Soon

Question 23

Calculation of New Profit sharing Ratio

Old Profit Sharing Ratio

B	C	Total
3	1	4

D is admitted as a new partner for share	1/3

Let the total profits be Rs 1	1
New partner Share	1/3
Remaining share	2/3

B's new share	1/3	(2/3 X 1/2)
C's new share	1/3	(2/3 X 1/2)

New Profit Sharing ratio

B	C	D	Total
1/3	1/3	1/3
1	1	1	3

Sacrificing Ratio

B	C	Total
5/12	-1/12
Sacrifice	Gain

D's share of Goodwill	15000
D's share in profits	1/3
Total Goodwill of the firm	45000
C's share of Goodwill	3750/1	(45000*1/12)

Journal Entries

Cash A/c Dr..	15000
To Premium for Goodwill A/c		15000
(New partner brought share of Goodwill in Cash)
Premium for Goodwill A/c Dr..	15000
C's Capital A/c Dr..	3750		(45000*1/12)
To B's Capital A/c		18750	(15000 + 3750)

▶ Video Solution: Coming Soon

Question 24

Old Profit Sharing Ratio

X	Y	Total
5	3	8

C share	1/5

New Profit Sharing ratio

X	Y	C
21/40	11/40	1/5
21	11	8

Sacrificing Ratio

A	B
1/10	1/10
1	1

Alternately,

Sacrificng ratio can be directly calculated form the the information given in the question

as this is a "FROM" question

Total Goodwill of the firm				60000
C's Share				12000
(Goodwill share of the partner = Goodwill of the firm X Profit Share)

Journal Entries

Cash/Bank A/c	40000
To C's Capital A/c		40000
(Being capital brought in by new partner)

Bank A/c Dr..	12000		(60000*1/5)
To Premium for Goodwill A/c		12000

Premium for Goodwill A/c Dr..	12000
To A's Capital A/c		6000	(Sacrificing ratio)
To B's Capital A/c		6000

▶ Video Solution: Coming Soon

Question 25

Old Profit Sharing Ratio

Geeta	Meeta	Total
3	2	5

New Profit Sharing Ratio

Geeta	Meeta	Anita	Total
5	3	2	10

Sacrificing Ratio

Geeta	Meeta
1/10	1/10
1	1

Anita's share of Goodwill	25000

Journal Entries

Cash A/c Dr..	25000
To Premium for Goodwill A/c		25000

Premium for Goodwill A/c Dr..	25000
To Geeta's Capital A/c		12500	25000*1/2	(In Sacrificing ratio)
To Sunita's Capital A/c		12500	25000*1/2	(In Sacrificing ratio)

▶ Video Solution: Coming Soon

Question 26

Valuation of Goodwill :

Average profits	20000

Capital employed	50000
Normal rate of return	10%
Normal profits	5000	(Capital X NRR)

Super Profits	15000	(20000-5000)
No of years purchase	3

Value of Goodwill	45000	(Firms Goodwill)
Naveen share of Profits	1/4

Naveen share of Goodwill	11250	(45000*1/4)

▶ Video Solution: Coming Soon

Question 27

Old Profit Sharing Ratio

A	B	Total
3	2	5

New Profit Sharing Ratio

A	B	C	Total
5	3	2	10

Sacrificing Ratio

A	B
1/10	1/10
1	1

C's share of Goodwill	10000

Journal Entries

A's Capital A/c	1800		(3000*3/5)
B's Capital A/c	1200		(3000*2/5)
To Goodwill A/c Dr..		3000
(Being old Goodwill written off)

Cash/Bank A/c Dr..	40000
To C's Capital A/c		30000
To Premium for Goodwill A/c		10000
(Being Capital and share of Goodwill brought in by new partner)

Premium for Goodwill A/c Dr..	10000
To A's Capital A/c		5000	(10000*1/2)
To B's Capital A/c		5000	(10000*1/2)
(Goodwill adjusted at the time of admission of new partner)

▶ Video Solution: Coming Soon

Question 28

Old Profit Sharing Ratio

Adil	Bhavya
7	5

New Partner Admitted	Kamal

Adil surrendered			1/24
Bhavya surrendered			1/8

Adil new share			13/24	(7/12 - 1/24)
Bhavya new share			7/24	(5/12 - 1/8)

Kamal share	1/6

New Profit Sharing ratio

Adil	Bhavya	Kamal
13/24	7/24	1/6
13	7	4

Sacrificing Ratio (Old Share - New Share)

Adil	Bhavya
1/24	1/8
1	3

Kamal's Share of Goodwill	36000

Journal Entries

Bank A/c Dr..	136000
To Premium for Goodwill A/c		36000
To Cris's Capital A/c		100000

Premium for Goodwill A/c Dr..	36000
To Adil's Capital A/c		9000	(36000*1/4)
To Bhavya's Capital A/c		27000	(36000*3/4)

P & L Appropriation A/c Dr..	240000
To Adil's Capital A/c		130000	(new profit sharing ratio)
To Bhavya's Capital A/c		70000
To Kamal's Capital A/c		40000

▶ Video Solution: Coming Soon

Question 29

Old Profit Sharing Ratio

X	Y	Total
5	3	8

Z's share in profits	3/10

Share gifted by X to Z	3/20	(3/10*1/2)

Remaining share of Z after gift from X	3/20	(3/10-3/20)

Remaining share taken equally from X and Y
Share taken from X	3/40	(3/20*1/2)
Share taken from Y	3/40	(3/20*1/2)

Total Share taken from X	9/40	(3/20+3/40)
Total Share taken from Y	3/40


New share of X	2/5	(5/8-9/40)
New share of Y	3/10	(3/8-3/40)

New Profit Sharing Ratio

X	Y	Z	Total
2/5	3/10	3/10
4	3	3	10

Sacrificing Ratio

X	Y
9/40	3/40
3	1

Goodwill Adjustment :

Goodwill of the firm	54000
Z's share in Goodwill	16200	(54000*3/10)

X will get	12150	(16200*3/4)
Y Will Get	4050	(16200*1/4)

Journal Entries :

Cash A/c Dr..	16200
To Premium for Goodwill A/c		16200

Premium for Goodwill A/c Dr..	16200
To X Capital A/c		12150
To Y Capital A/c		4050

Profit and Loss Appr A/c Dr..	60000
To X Capital A/c		24000	(60000*4/10)
To Y Capital A/c		18000	(60000*4/10)
To Z Capital A/c		18000	(60000*4/10)

Note : There seems to be a misprint in the question as the Book question and solution given
	are not matching

▶ Video Solution: Coming Soon

Question 30

Total Goodwill of the firm				600000
Sohan's Share				150000	(1/4) of 6L

Since no information on new profit sharing ratio is given so old

partners will sacrifice in the old profit sharing ratio

Ram's Share in Goodwill				90000	(3/5 of 1.5L)
Mohan's Share in Goodwill				60000	(2/5 of 1.5L)

Journal Entries

Stock A/c Dr..	60000
Debtors A/c Dr..	80000
Land A/c Dr..	100000
Plant & Machinery A/c Dr..	40000
To Sohan's Capital A/c		130000	(Balancing Figure)
To Premium for Goodwill A/c		150000	(600000*1/4)
(Being assets brought in by new partner for capital and share of Goodwill)

Premium for Goodwill A/c Dr..	150000
To Ram's Capital A/c		90000	(150000*3/5)
To Mohan's Capital A/c		60000	(150000*2/5)
(Goodwill transferred to Old partners capital A/c)

Case (i)	No additional entry required

Case (ii)	Ram Capital A/c Dr..	45000
	Mohan Capital A/c Dr..	30000
	To Cash		75000

▶ Video Solution: Coming Soon

Q 1-10 | Q 11-20 | Q 21-30 | Q 31-40 | Q 41-50 |

T S Grewal Solutions – Admission of a Partner– All Questions

T S Grewal Solutions Class 12 2026-27 – All Chapters

Cash A/c Dr..

To Premium for Goodwill A/c

Premium for Goodwill A/c Dr..

To B Capital A/c

(20000*3/5)

To C Capital A/c

(20000*2/5)