Solution of Q 23 Retirement of Partner TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 23, Chapter 6 Retirement of a Partner, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 23
A, B and C were partners in a firm sharing profits in the ratio of 6 : 5 : 4. Their capitals were A—₹ 1,00,000; B—₹ 80,000 and C—₹ 60,000 respectively. On 1st April, 2009, A retired from the firm and the new profit-sharing ratio between B and C was decided as 1 : 4. On A’s retirement, the goodwill of the firm was valued at ₹ 1,80,000. Showing your calculations clearly, pass the necessary Journal entry for the treatment of goodwill on A’s retirement.
Solution
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About this solution
This is Chapter 6 Retirement of Partner of TS Grewal Edition 2022-23.
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 CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.
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