Solution of Q 26 Retirement of Partner TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 26, Chapter 5 Retirement of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 26
Sangeeta, Saroj and Shanti are partners sharing profits and losses in the ratio of 5 : 3 : 2. Shanti retired and on the date of her retirement, following adjustments were agreed:
- (a) The value of Furniture is to be increased by ₹ 12,000.
- (b) The value of stock to be decreased by ₹ 10,000.
- (c) Machinery of the book value of ₹ 50,000 is to be reduced by 10%.
- (d) A Provision for Doubtful Debts @ 5% is to be created on debtors.
- (e) Unrecorded investment worth ₹ 10,000.
- (f) A creditor of ₹ 1,000 is not likely to be claimed, hence, is to be written back.
Pass necessary Journal entries.
Solution
All questions of Chapter 5
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About this solution
This is Chapter 5 Retirement of Partner of 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 CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.
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