This page includes solutions of all the Practical problems of this chapter from TS Grewal 2021 edition.
Practical Problems
Calculation of New Profit-Sharing Ratio and Sacrificing Ratio Question no. 1 – 18
Admission of a Partner and Treatment of Goodwill:
-(i)Premium for Goodwill is brought in Cash by the New Partner and Retained in the Business Q.19-Q.29
-(ii)Premium for Goodwill brought in Kind Q.30
-(iii)When Premium for Goodwill is brought by a New Partner and is withdrawn by Old Partners Fully or Partly Q.31-Q.32
-(iv)When Only Part of Premium for Goodwill is brought by New Partner in Cash Q.33-Q.34
-(v)When New or Incoming is not able to bring his share of Premium for Goodwill Q.35-Q.36
-(vi)Hidden Goodwill Q.37-Q.41
-(vii)Miscellaneous Q.42-Q.45
Revaluation of Assets and Reassessment of Liabilities Question no. 46-52
Reserves and Accumulated Profit/Losses and Preparation of a Revaluation Account Q.53-Q.55
Preparation of Capital account and Balance Sheet Q.56 to Q.58
Preparation of Capital Accounts and Balance Sheet Q.59 to Q.61
Preparation of Capital Accounts and Balance Sheet Q.62 to Q.64
Preparation of Capital Accounts and Balance Sheet Q.65 to Q.67
Preparation of Capital Accounts and Balance Sheet Q.68 to Q.70
Preparation of Capital Accounts and Balance Sheet Q.71 to Q.73
Preparation of Capital Accounts and Balance Sheet Q.74 to Q.76