T S Grewal Solutions 2026-27 [Class 12] – Admission of a Partner – Q 31 to 40

Admission of a Partner /

Solution for Q 31 to 40 of Chapter 4 of T S Grewal Class 12 Accountancy 2026-27 are given below. The Chapter name is Admission of a Partner 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, goodwill accounting when new partner brings his share of goodwill partly, when new or incoming partner is not able to bring his share of goodwill, hidden goodwill

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 31
Since no information on new profit sharing ratio is given so old partners will sacrifice in the old profit sharing ratio
 
Sacrificing Ratio
A B                
1 2                
Journal Entries
Bank A/c Dr..         140000        
                To C's Capital A/c     80000      
                To Premium for Goodwill A/c     60000      
(Being Capital brought in by new partner and his share of Goodwill)            
                   
Premium for Goodwill A/c Dr..   60000        
        To A's Capital A/c     20000 (60000*1/3)    
        To B's Capital A/c     40000 (60000*2/3)    
(Goodwill transferred to Old partners capital A/c)            
                   
A's Capital A/c Dr..   20000        
B's Capital A/c Dr..   40000        
       To Bank A/c     60000      
(Amount of Goodwill withdrawn by old partners)                  
Calculation of New Profit Sharing Ratio
 
Let the total profits be 1     1            
C's share   1/4            
Remaining share   3/4            
                   
A's new share   1/4 (3/4 X 1/3)          
B's new share     1/2 (3/4 X 2/3)          
New Profit Sharing Ratio
A B C              
1/4 1/2 1/4              
1 2 1              
Partners Capital A/c
Particulars   A B C Particulars   A B C
To Bank A/c   20000 40000   By Balance B/d   80000 100000  
          By Bank       80000
          By Premium for Goodwill   20000 40000  
To Balance C/d   80000 100000 80000          
Total   100000 140000 80000 Total   100000 140000 80000
▶ Video Solution: Coming Soon
Question 32
Old Profit Sharing Ratio
A B Total      
3 2 5      
New Profit Sharing Ratio
A B C Total    
2 2 3 7    
Sacrificing Ratio
A B        
11/35 4/35        
11 4        
Journal Entries
Bank A/c Dr..       350000  
         To C's Capital A/c     200000
         To Premium for Goodwill A/c     150000
(Being Capital and share of Goodwill brought in by new partner)      
           
Premium for Goodwill A/c Dr..   150000  
           To A's Capital A/c     110000
           To B's Capital A/c     40000
           
A's Capital A/c Dr..   55000  
B's Capital A/c Dr..   20000  
       To Bank A/c         75000
▶ Video Solution: Coming Soon
Question 33
Goodwill of the firm     1200000 (Given in question)  
Nita's share in profits   1/4    
Nita's Share in Goodwill     300000 (1200000*1/4)  
Journal Entries :
Bank A/c Dr..       500000  
         To Nita's Capital A/c     200000
         To Premium for Goodwill A/c     300000
(Being Capital and share of Goodwill brought in by new partner)      
           
Premium for Goodwill A/c Dr..   300000  
           To Mahesh's Capital A/c     200000
           To Suresh's Capital A/c     100000
           
Mahesh's Capital A/c Dr..   200000  
Suresh's Capital A/c Dr..   100000  
       To Bank A/c         300000
Calculation of Sacrificing Ratio :
Old Profit Sharing Ratio
Mahesh Suresh Total      
2 1 3      
New Profit Sharing Ratio
Mahesh Suresh Nita Total    
2 1 1 4    
Sacrificing Ratio
Mahesh Suresh        
1/6 1/12        
2 1        
▶ Video Solution: Coming Soon
Question 34
Journal Entries    
A's Capital A/c Dr.. 12000   (18000*2/3)
B's Capital A/c Dr.. 6000   (18000*1/3)
           To Goodwill A/c 18000  
(Being Goodwill existing in books written Off in old ratio)
       
Bank A/c Dr.. 38000    
         To C's Capital A/c 30000 (Capital)
         To Premium for Goodwill A/c 8000 (Premium for Goodwill)
(Being Capital and share of Goodwill brought in by new partner)
       
Premium for Goodwill A/c Dr.. 8000   **entry for Bank to Premium for Goodwill with only the amount brought in
C's Current A/c Dr.. 2000   **In the second entry for transferring the share of Goodwill to old partners
           To A's Capital A/c 6667 (10000 X 2/3)
           To B's Capital A/c 3333 (10000 X 1/3)
(Being share of goodwill transferred to old partners capital A/c)
       
Note : Sacrificing ratio will be same as old profit sharing ratio
       
Alternately    
entries can be made separately for share of goodwill brought by new partner and share of goodwill not brought
       
Premium for Goodwill A/c Dr..       8000      
    To A's capital A/c     5333 (Sacrificing ratio)  
    To B's capital A/c     2667    
               
C's Current A/c Dr..   2000      
    To A's capital A/c     1333 (Sacrificing ratio)  
    To B's capital A/c         667    
▶ Video Solution: Coming Soon
Question 35
Old Profit Sharing Ratio
Rohit Mohit Total      
3 2 5      
Rahul share in profits     1/3    
           
Goodwill of the firm   30000 (given in question)  
Rahul share of Goodwill   10000 (30000*1/3)  
           
Goodwill brought by Rahul     5000    
(Note : This question is of Goodwill partly brought)
 
Journal Entries :
Bank A/c Dr..     45000    
    To Rahul Capital A/c     40000  
    To Premium for Goodwill A/c     5000  
           
Premium for Goodwill A/c Dr..   5000    
Rahul Current A/c Dr..   5000   (10000-5000)
    To Rohit Capital A/c     6000  
    To Mohit Capital A/c     4000  
           
Rohit Capital A/c Dr..   9000   (15000*3/5)
Mohit Capital A/c Dr..   6000   (15000*2/5)
    To Goodwill A/c       15000  
▶ Video Solution: Coming Soon
Question 36(a)
Total Goodwill of the firm 30000  
Ritu's Share (New Partner) share in profits 1/4  
Ritu's Share (New Partner) in Goodwill 7500 (30000*1/4)
     
The new profit sharing ratio is not given so the sacrificing ratio will be equal to old profit sharing ratio
     
Ritu's Current A/c Dr..       7500    
         To Murthy's Capital A/c     4500 (7500*3/5)
         To Shah's Capital A/c         3000 (7500*2/5)
▶ Video Solution: Coming Soon
Question 36(b)
Murthy's Capital A/c Dr..       6000   (10000*3/5)
Shah's Capital A/c Dr..   4000   (10000*2/5)
           To Goodwill A/c     10000  
(Old Goodwill Written Off)        
             
Total Goodwill of the firm   30000    
Ritu's Share   7500    
             
Ritu's Current A/c Dr..   7500    
         To Murthy's Capital A/c     4500  
         To Shah's Capital A/c         3000  
▶ Video Solution: Coming Soon
Question 37
Old Profit Sharing Ratio
A B C Total          
5 4 1 10          
New Profit Sharing Ratio
A B C D E Total      
3 4 2 2 1 12      
Sacrificing Ratio
A B C            
1/4 1/15 -1/15            
Sacrifice Sacrifice Gain            
Sacrificing Ratio
A B              
1/4 1/15              
15 4              
D's share of Goodwill 90000
D's share in Profits 1/6        
Total Goodwill of the firm 540000 (90000/(1/6))
Goodwill share of partner = Firms Goodwill X New partner profitt share
So , Firms Goodwill = Goodwill share of partner / partner profit share
     
E's share in Goodwill 45000 (540000 X 1/12)
C's gain 36000 (540000 X 1/15)
     
Journal Entries  
Bank A/c Dr..       330000        
         To D's Capital A/c     120000      
         To E's Capital A/c     120000      
         To Premium for Goodwill A/c     90000 (D brings cash for Goodwill)  
(Being Capital and share of Goodwill brought in by new partners)            
                 
Premium for Goodwill A/c Dr..   90000   (D's share of Gooodwill)  
E's Current A/c Dr..   45000   (E's share of Gooodwill)  
C's Capital A/c Dr..   36000   (C's share of Gooodwill)  
           To A's Capital A/c     135000 (540000*1/4)  
           To B's Capital A/c         36000.0 (540000*1/15)    
**Find total Goodwill of the firm and then multiply it with the sacrifice done by A
     
Find Amount to be credired to Old Partners
Total Amount to be credited 171000 (90000 + 45000 + 36000)
     
A's Share 135000 (171000 X 15/19)
B's Share 36000 (171000 X 4/19)
     
Or    
     
**Find total Goodwill of the firm and then multiply it with the sacrifice done by A
▶ Video Solution: Coming Soon
Question 38
C's Capital     70000      
C's share   1/4      
Total Capital of the firm   280000 (Based on New partner capital)  
             
A's Capital   60000      
B's Capital   120000      
C's Capital   70000      
Total Adjusted Capital   250000 (Actual capital of the new firm)  
             
Goodwill of the firm   30000      
C's share   1/4      
C's share in Goodwill     7500      
▶ Video Solution: Coming Soon
Question 39
Charu's Capital       320000      
Charu's share   1/4      
Total Capital of the firm/ firms worth   1280000 (320000*4/1)  
(Based on New partner capital)          
               
Anil's Capital   320000      
Sunil's Capital   240000      
Charu's Capital   320000      
Total Adjusted Capital   880000 (Actual capital of the new firm)  
Goodwill of the firm   400000 (1280000-880000)  
               
Charu's Share       100000 (400000*1/4)    
Bank A/c Dr..       320000      
         To Charu's Capital A/c     320000    
(Being Capital brought in by new partner)          
               
Charu's Current A/c Dr..   100000      
           To Anil's Current A/c     50000    
           To Sunil's Current A/c         50000    
Note :
* Since it is not mentioned that the new partner brought her share of Goodwill in cash so we assume that she
has not brought her share in cash
   And accordingly the new partner's current account is debited in Goodwill entry
** Since it is mentioned that the old partners are maintaining fixed capitals so for goodwill
entry current accounts are used
*** The old profit sharing ratio of old partners is not given so it is assumed to be equal. The sacrificing ratio
will also accordingly be equal
▶ Video Solution: Coming Soon
Question 40
Nisha's Capital     90000    
Charu's share   1/4    
Total Capital of the firm   360000 (90000*4/1)  
(Based on New partner capital)        
           
Vanshika's Capital   100000    
Shikha's Capital   80000    
Nisha's Capital   90000    
Total Adjusted Capital   270000 (100000+80000+90000)  
(Actual capital of the new firm)          
Goodwill of the firm 90000 (360000-270000)
     
Nisha's Share 22500 (90000*1/4)
     
Calculation of Sacrificing Ratio :
     
Sacrificing Ratio Vanshika Shikha  
(Directly given in the question) 1 1  
Joural Entries
Bank A/c Dr..     90000    
    To Nisha Capital A/c     90000  
           
Nisha Current A/c Dr..   22500    
    To Vanshika Capital A/c     11250  
    To Shikha Capital A/c       11250  
▶ 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

Related Posts

Leave a Comment

Your email address will not be published. Required fields are marked *