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A and B are partners in a firm sharing ...

A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. A new partner C is admitted. A surrenders 1/5th of his share and B surrender 2/5th of his share in favour of C. For the purpose of C's admission, goodwill of the firm is valued at RS 75,000 and C bring his share of goodwill in cash which is retained in the firm's books. Journalise the above transactions.

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New Ratio-12 : 6 : 7, Sacrificing Ratio-3 : 4, C's share of Goodwill -RS.21,000 `(75,000xx7//25),` (i) Dr. Bank A/c and Cr. Premium for Goodwill A/c by RS.21,000, (ii) Dr.Premium for Goodwill A/c-RS. 21,000, A's Capital A/c-RS.9,000 and B's Capital A/c-RS.12,000.
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TS GREWAL-Admission of a Partner-EXERCISE
  1. A and B are partners sharing profits and losses in the ratio of 2 : 1....

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  2. A and B are partners sharing profits and losses in the ratio of 2 : 5....

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  3. A and B are partners in a firm sharing profits and losses in the rati...

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  4. B and C are in partnership sharing profits and losses as 3 : 1. They a...

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  5. M and J are partners in a firm sharing profits in the ratio of 3 : 2. ...

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  6. A and B are in partnership sharing profit and losses in the ratio of 5...

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  7. A and B are partners sharing profits and losses in the ratio of 7 : 5...

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  8. X and Y are partners sharing profits in the ratio of 3 : 1. Z is admit...

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  9. Anshul and Parul are partners sharing profits in the ratio of 3 : 2. T...

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  10. A and B are partners in a firm sharing profits and losses in the ratio...

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  11. Aun and Bhagwan were partners in a firm sharing profits in the ratio 3...

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  12. X and Y are partners in a firm sharing profits in the ratio of 3 : 2....

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  13. A and B are partners in a business sharing profits and losses in the r...

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  14. A and B were partners in a firm sahring profits and losses in the rati...

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  15. A and B are partners sharing profits in the ratio of 2 : 1. They admit...

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  16. A and B are partners sharing profits and losses in the ratio of 3 : 2....

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  17. On the admission of Rao, goodwill of Murty and Shah is valued at RS.30...

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  18. A and B are partners sharing profits in the ratio of 3 : 2. Their boo...

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  19. A, B and C are in partnership profits and losses in the ratio of 5 : 4...

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  20. Mohan and Sohan were partners in a firm sharing profits and losses in ...

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