Class 12 Accountancy – Admission of a Partner (Practical Answers), CBSE | Step-by-Step Solutions & Journal Entries

Class 12 Accountancy- Admission of a
Partner[Practical Answer]


Ans1:-A & B share profits 3:2. C admitted for 1/4th share. C brings
₹40,000 capital & ₹8,000 goodwill.

Step 1: Old Ratio

A:B=3:2

Step 2: New Ratio

Remaining share = 1 − 1/4 = 3/4
A = 3/5 × 3/4 = 9/20
B = 2/5 × 3/4 = 6/20
C = 5/20

Step 3: Sacrificing Ratio

Old – New
A = 3/5 − 9/20 = 3/20
B = 2/5 − 6/20 = 2/20
Sacrifice = 3 : 2

Step 4: Goodwill Treatment

₹8,000 distributed to A & B in 3:2
A = ₹4,800
B = ₹3,200

Journal Entry

Bank A/c Dr 48,000

To Capital A/c (C) 40,000

, To Goodwill A/c 8,000



Goodwill A/c Dr 8,000

To A’s Capital A/c 4,800

To B’s Capital A/c 3,200



Ans2:-X & Y share 2:1. Admit Z. Stock ↑ 6,000, Furniture ↓ 1,500. Z
brings ₹50,000 & ₹5,000 goodwill.

Step 1: Revaluation Profit

Increase = 6,000
Decrease = 1,500
Net Profit = ₹4,500

Step 2: Distributed to X & Y (2:1)

X = ₹3,000
Y = ₹1,500

Step 3: Goodwill

₹5,000 credited to X & Y (2:1)
X = ₹3,333
Y = ₹1,667

Key Journal Entries

Revaluation A/c Dr 1,500

To Furniture A/c 1500