[ISC] Q. 32 Solution of Retirement of Partner TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 32, Chapter 4 Retirement of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 32
Varun, Amit and Renu were partners sharing profits and losses in the ratio of 4 : 3 : 2. Amit retired on 1st April, 2023. On that date, capitals of Varun, Amit and Renu after all adjustments stood at ₹ 39,300; ₹ 39,600 and ₹ 18,300 respectively. Total capital of the reconstituted firm is fixed at ₹ 56,000 between Varun and Renu in the proportion of 5/8th and 3/8th after passing entries in their accounts for adjustments. Calculate amount to be paid or to be brought in by the continuing partners and pass necessary Journal entries.
Solution
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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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