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[ISC] Q. 13 Solution of Retirement of Partner TS Grewal ISC 2023-24 Edition

Question 13 of 48Chapter 4Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 13, Chapter 4 Retirement of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 13

Sid, Harry and Jiten are partners sharing profits and losses in the ratio of 4 : 3 : 1. Harry retires, selling his share of profit to Sid and Jiten for ₹ 1,20,000. ₹ 70,000 being paid by Sid and ₹ 50,000 by Jiten. Profit for the year after the retirement of Harry is ₹ 64,000. Pass necessary Journal entries for the above transactions and calculate new profit-sharing ratio.

TS Grewal Class 12 Retirement of Partner Question 13

Solution

Solution of Q 13 Retirement of Partner TS Grewal 2023-24 part 1
Solution of Q 13 Retirement of Partner TS Grewal 2023-24 part 2
Stuck on this chapter?Watch it explained in the Class 12 Accounts video courseEvery chapter, step by step, by Vijay Adarsh (23 years teaching).Watch free demo
Solution of Q 13 Retirement of Partner TS Grewal 2023-24 part 3
Solution of Q 13 Retirement of Partner TS Grewal 2023-24 part 4
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About this solution

This is Chapter 4 Retirement of 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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