ADMISSION OF A PARTNER

1 Kamini, Lata and Meera were partners in a firm sharing profits and losses equally. Neel was admitted
as a new partner for an equal share in the profits of the firm. Neel brought his share of capital and
premium for goodwill in cash. On the date of admission of Neel, goodwill appeared in the books at ₹
1,20,000. The existing goodwill is to be written off among :
(A) Old partners in old ratio. (B) New partners in new ratio.
(C) Sacrificing partners in sacrificing ratio. (D) Old partners in sacrificing ratio
2 Arjun, Babita and Charlie were partners in a firm sharing profits in the ratio of 2 : 2 : 1. They admitted
Dheeraj for 1/5 th share in the profits of the firm. He has to contribute proportionate capital to
acquire 1/5 th share in future profits. On the date of admission, the capitals after all adjustments
relating to goodwill and revaluation of assets and liabilities, were : Arjun ₹ 62,000, Babita ₹ 52,000 and
Charlie ₹ 36,000. The capital brought by Dheeraj will be :
(A) ₹ 37,500 (B) ₹ 30,000 (C) ₹ 32,500 (D) ₹ 35,000
3 Renu, Trilok and Mansi were partners in a firm sharing profits and losses in the ratio of
9 : 6 : 5. Hina was admitted as a partner for 1/10 th share in the profits which she acquired equally
from Renu and Trilok. The new profit sharing ratio after Hina’s admission will be :
(A) 5 : 5 : 2 : 8 (B) 5 : 5 : 8 : 2 (C) 8 : 2 : 5 : 5 (D) 8 : 5 : 5 : 2
4 Ashu and Ria were partners in a firm sharing profits and losses in the ratio of 4 : 3. They admitted Nitu
for a 3/7 th share in the profits of the firm, which she took 2/7 th from Ashu and 1/7 th from Ria. The
new profit sharing ratio between Ashu, Ria and Nitu will be : 1
(A) 4 : 3 : 3 (B) 2 : 1 : 3 (C) 2 : 2 : 3 (D) 4 : 3 : 2
5

On 1st April, 2023, Mani was admitted into partnership for 1/5th share in the profits of the firm on the
following terms :
(i) Mani brought ₹ 20,000 as her share of goodwill and proportionate capital.
(ii) Provision for doubtful debts was to be maintained at 10% on debtors.
(iii) Market value of investments was ₹ 35,000.
(iv) The value of Plant and Machinery be increased by ₹ 6,600.
Prepare Revaluation Account and Partners’ Capital Accounts.
6 Ali and Bani were partners in a firm. They admitted Chaman as a new partner with /14 th share in the
profits of the firm. Chaman brought ₹ 5,00,000 as his share of capital. The value of assets of
the firm on Chaman’s admission was ₹ 20,00,000 and outside liabilities were ₹ 12,00,000. The
goodwill of the firm on Chaman’s admission was : 1
(A) ₹ 13,00,000 (B) ₹ 20,00,000 (C) ₹ 8,00,000 (D) ₹ 7,00,000
7 Mohit and Rohit were partners in a firm sharing profits and losses in the ratio of 3 : 2. On 1st April,
2024, they admitted Radha for 1/ 5 th share in the profits of the firm. Before Radha’s admission, the
Balance Sheet of Mohit and Rohit showed furniture at ₹ 6,30,000. On admission of Radha, it was
found undervalued by 10%. The journal entry for the above adjustment on Radha’s admission will
be :
 (A) Revaluation A/c Dr. 63,000 (B) Furniture A/c Dr. 70,000
To Furniture A/c 63,000 To Revaluation A/c 70,000

(C) Revaluation A/c Dr. 70,000 (D) Furniture A/c Dr. 63,000
To Furniture A/c 70,000 To Revaluation A/c 63,000

8 Manav and Adi were partners in a firm sharing profits and losses in the ratio of 5 : 3. Roy was admitted
with 1/ 5 th share in the profits of the firm. At the time of Roy’s admission, Workmen’s Compensation
Reserve appeared in the Balance Sheet of the firm at ₹ 4,00,000. The claim on account of workmen’s
compensation was determined at ₹ 4,40,000. The excess amount of claim over the reserve will be
debited to : 1
(A) Realisation Account (B) Revaluation Account (C) Roy’s Capital Account (D) Bank Account
9 A, B and C were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. On 1st April, 2024,
D was admitted as a partner in the firm. The new profit sharing ratio was 2 : 2 : 1 : 1.
The sacrificed share of A was : 1
(A) 1/ 6th (B) Nil (C) 3/6th (D) 2/6th
10 Anya and Sanya were partners in a firm sharing profits and losses in the ratio of 5 : 2. They admitted
Vanya as a new partner for 3/ 7th share in the profits of the firm. She acquired 2/7th share from Anya
And 1/7th share from Sanya. The new profit sharing ratio of Anya, Sanya and Vanya will be : 1
(A) 1 : 3 : 3 (B) 5 : 2 : 3 (C) 3 : 1 : 3 (D) 5 : 2 : 1
11 Karan and Arjun were partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March,
2024, their Balance Sheet was as follows :

On 1st April, 2024, Nakul was admitted into the partnership for 1/ 4 th share in the profits of the firm
on the following terms :
(i) Nakul brought ₹ 4,00,000 as his capital and his share of goodwill premium in cash. Goodwill of the
firm was valued at ₹ 2,00,000.
(ii) Furniture was valued at ₹ 2,50,000.
(iii) A provision for doubtful debts @ 10% is to be maintained on debtors.
(iv) The liability against Workmen’s Compensation Fund was estimated at ₹ 1,20,000.
(v) After the above adjustments, the capitals of Karan and Arjun were to be adjusted taking Nakul’s
capital as the base. Excess or shortage in the capital accounts of Karan and Arjun was to be adjusted
by opening current accounts.
Prepare Revaluation Account and Partners’ Capital Account
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