Double
Entry Book Keeping Ts Grewal Volume I 20212022 Solutions for Class 12
Commerce
Accountancy Chapter 5  Admission Of A
Partner
Page No 5.86:
Question 16:
Gautam and Yashica
are partners sharing profits and losses in the ratio of 3 : 2. They admit Asma
into partnership. Gautam gives 1/3rd of his share while Yashica
gives 1/10th from his share to Asma. Calculate new profitsharing
ratio and sacrificing ratio.
Answer:
Old Ratio of Gautam and Yashica
is 3 : 2.
Gautam 's sacrifice=1/3×3/5=3/15 Yashica 's sacrifice=1/10 Sacrificing Ratio=3/15:1/10 or 2 :1
New Ratio = Old Share − Share Sacrificed
Gautam 's new share=3/53/15=6/15 Yashica 's new share=2/51/10=3/10 Asma's share=3/15+1/10=9 30 New Ratio=6/15 : 3/10 : 9/30 = 4 :3 : 3
Page No 5.86:
Question 17:
A,
B and C are
partners sharing profits in the ratio of 2 : 2 : 1. D is
admitted as a new partner for 1/6th share. C will retain his original
share. Calculate the new profitsharing ratio and sacrificing ratio.
Answer:
Calculation of New Profit Sharing Ratio
Old Ratio of A, B and C is 2
: 2 : 1
. D is admitted
for 1/6th share while . C will retain his 1/5 original share
Remaining
share=11/61/5
=3056/30=19/30
Remaining share will
be shared by A and B in 2:2 (old).

A’s 
=19/30×2/4 




=38/120 



B’s 
=19/30×2/4 




=38/120 



C’s 
=1/5×24/24 




=24/120 



D’s 
=1/6×20/20 




=20/120 


A 

B 

C 

D 

38 
: 
38 
: 
24 
: 
20 

19 
: 
19 
: 
12 
: 
10 

*Since
nothing is mentioned about the sacrifice made by the existing partners, it is
assumed that A and B sacrifice in their old ratio.
Calculation of Sacrificing Ratio
Sacrificing
Ratio =Old ratio new ratio
A’s 
=2/519/60 

=2419/60=5/60 
B’s 
=2/519/60 

=2419/60=5/60 
A : B = 5:5=1:1
Page No 5.86:
Question 18:
Amit
and
Vidya are partners sharing profits in the ratio of 3 : 2. They admit Chintan
into partnership who acquires 1/5th of his share from Amit and 4/25th
share from Vidya. Calculate New Profitsharing Ratio and Sacrificing
Ratio.
Answer:
Calculation of New Profit Sharing Ratio
Amit: Vidya=3:2 (Old Ratio)
Chintan acquires 1/5th of his share from Amit
And,
Remaining 4/5th
(1−1/5) of his share from Vidya.
If 4/5th share of Chintan
=4/25
Chintan
's share=4/25×54=5/25
Amit
's sacrifice=1/5×1/5=1/25
Vidya
's sacrifice=4/25
Amit
's new share=3/5−1/25=1/5−1/25=14/25
Vidya
's new share=2/5−4/25=10−4/25=6/25
Chintan
's new share=1/5×5/5=5/25
Amit: Vidya:R=14:6:5
Sacrificing Ratio=1:4
Page No 5.87:
Question
19: Gold and Silver are
partners sharing profits and losses in the ratio of 2 : 5. They admit Copper
on the condition that he will bring ` 14,000 as his share of goodwill to be distributed between
Gold and Silver. Copper's share in the future
profits or losses will be 1/4th. What will be the new profitsharing ratio and
what amount of goodwill brought in by Copper will be received by Gold and Silver?
Answer;

A 
B 
OLD
RATION 
2 : 
5 
C is admitted for 1/4share
Let the combined share of A, B and C be = 1
Combined share of A and B after C’s admission = 1
− C’s share
=11/4
=3/4
New Ratio = Old Ratio  Combined share of A and B
A’s 
=2/7×3/4 

=6/28 
B’s 
=5/7×3/4 

=15/28 
New profit sharing ratio=
A 

B 

C 
6/28 
: 
15/28 
: 
1/4 
6/28 
: 
15/28 
: 
7/28 
6 
: 
15 
: 
7 
Distribution of C’s share of Goodwill OR A and B will be covered
C’s share of Goodwill = ` 14,000
A will get =14,000×2/7=4,000
B will get =14,000×5/7=10,000
Page No 5.87:
Question 20: Vimal and Nirmal are partners in a firm sharing profits and losses
in the ratio of 3: 2. A new partner Kailash is admitted. Vimal gives 1/5th of
his share and Nirmal gives 2/5th of his share in favour of Kailash. For the
purpose of Kailash's admission, goodwill of the firm is valued at 75,000 and
Kailash brings his share of goodwill in cash which is retained in the business.
Journalise the above transactions.
Answer:
Old Ratio of Vimal and Nirmal is 3:2
Share of Profits Kailash will get from Vimal 1/5th of his share 3/5
= 3/5×1/5=3/25
Share of Profits Kailash will get from Nirmal 2/5th of his share 2/5
= 2/5×2/5=4/25
Remaining of –
Vimal = 3/5  3/25 = 12/25
Nirmal= 2/5  4/25 = 6/25
Share of Kailash= 3/25 + 4/25=3+4/25=7/25
New
Profit sharing ratio of Vimal, Nirmal and Kailash= 12/25 : 6/25 : 7/25
Kailash brings his share of goodwill in cash =75,000 × 7/25 = 21,000
Vimal
and Nirmal will be compensated in sacrificing =3:4
Vimal =21,000×3/7=9,000
Nirmal =21,000×4/7=12,000
Journal Entry for Goodwill:

Bank
a/c To Premium for Goodwill a/c (Being
Goodwill brought in Cash) 
Dr. 
21,000 21,000 
21,000 21,000 
Premium
for Goodwill a/c To Vimal’s Capital a/c To Nirmal Capital a/c (Being
partners compensated in sacrificing ratio 3:4) 
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