Q.21 Solution Retirement of Partner TS Grewal Book Class 12 CBSE
Step-by-step solution of Question 21, Chapter 5 Retirement of a Partner, TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.
Question 21
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
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