[ISC] Q. 4 Solution of Death of Partner TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 4, Chapter 5 Death of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 4
Ramu, Rahim and Rehman were partners in a firm. Rehman died on 31st May, 2022. His share of profit from the closure of the last accounting year till the date of death was to be calculated on the basis of the average of three completed years of profits before death. Profits for the years ended 31st March, 2020, 2021 and 2022 were ₹ 18,000; ₹ 19,000 and ₹ 17,000 respectively.
Calculate Rehman’s share of profit till his death and pass necessary Journal entry for the same when:
- (i) there is no change in profit-sharing ratio of remaining partners, and
- (ii) there is change in profit-sharing ratio of remaining partners, new ratio being 3 : 2.
Solution
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About this solution
This is Chapter 5 Death of a Partner of ISC TS Grewal Edition 2023-24.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per Guidelines Issued by the ISC Council. Just follow our presentation of solutions and score good marks in Accountancy Exam.
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