Admission of a Partner · Class 12 Accountancy · Chapter 3
📊 Reconstitution of a Partnership Firm — Admission of a Partner
CBSE Class 12 Humanities & Commerce · Accountancy · Chapter 1
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📖Notes Deck
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Download PDF →Top question patterns · CBSE annual / SQP aggregate
| 100% | Revaluation A/c + Capital A/cs + Balance Sheet on admission — Ratio + sacrifice first. Then Revaluation. Then reserves + premium. Then Capital A/cs. Then Balance Sheet — match totals. | 8 MARKS |
| 85% | New ratio + sacrificing ratio — Common denominator. Sacrifice = Old − New. New partner's share = total sacrifice. | 4 MARKS |
| 80% | Goodwill premium journal entries — Cash split into capital + premium; distribute premium in SACRIFICING ratio; AS-26 no asset. | 4 MARKS |
| 55% | Hidden goodwill — Implied total capital = new capital ÷ share; subtract actual total; that gap is the firm's goodwill. | 4 MARKS |
| 50% | Adjustment of capitals in new ratio — Take new partner's capital as base for total capital; allocate to old partners in new ratio; adjust surplus/deficit via cash or current accounts. | 3 MARKS |
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