Solution 29,30,31,32 of Admission of a Partner DK Goel

Solution 29,30,31,32 of Admission of a Partner DK Goel ‎⁨‪@abc_1d‬ ‪@harhardiksha‬ ‪@harharsahil‬


Q 29.X and Y are partners sharing profits and losses in the ratio of 3:2. They admit Z into Partnership, Z paying a premium of ₹100000 for 1/4th share of the profits while X and Y as between themselves sharing profits and losses equally. Give journal entries.

Q30. A, B and C are partners sharing profits and losses in the ratio of 3:2:1. They admit D for 1/4th share in the profits and he brought in ₹150000 as his share of goodwill which was credited to the Capital Accounts of B and C respectively with ₹125000 and ₹25000. Calculate the new profit sharing ratio


Q31. A and B are partners sharing profits and losses as 2:1. On 1st April, 2021 they admit C as a partner for 1/4th share who pays ₹450000 as goodwill privately. On 1st April, 2022, they take D as a partner for 3/5th share who brings ₹400000 as goodwill, out of which half is withdrawn by the existing partners. On 1st April, 2023, E is admitted as a partner for 1/6th share who brings ₹500000 as goodwill which is retained in the business.

Q32. P and Q are partners sharing profits & losses as 2:3. R and S are admitted and profit sharing ratio becomes 3:4:3:2. Goodwill is valued at ₹300000. R brings required goodwill and ₹200000 cash for capital. S brings in ₹100000 cash and Motor Vehicle for ₹80000 as his capital in addition to the required amount of goodwill in cash.
Show the necessary Journal entries.