Solution of Q 23 Death of a Partner TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 23, Chapter 7 Death of a Partner, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 23
X, Y and Z were partners in a firm sharing profits in the ratio of 4 : 3 : 1. The firm closes its books on 31st March every year. On 1st February, 2021, Y died and it was decided that the new profit-sharing ratio between X and Z will be equal. Partnership Deed provided for the following on the death of a partner:
- (a) His share of goodwill be calculated on the basis of half of the profits credited to his account during the previous four completed years. The firm’s profits for the last four years were:
Solution
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About this solution
This is Chapter 7 Death of a 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.
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