[ISC] Q. 35 Solution of Retirement of Partner TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 35, Chapter 4 Retirement of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 35
Anil, Dinesh and Raman were partners sharing profits and losses in the ratio of 5 : 3 : 2. Dinesh retired on 1st April, 2023. On that date, capitals of Anil, Dinesh and Raman after adjustments stood at ₹ 86,400; ₹ 73,200 and ₹ 22,400 respectively. Cash and bank balance on 31st March, 2023 was ₹ 8,000. Dinesh was to be paid through amount brought in by Anil and Raman in a manner so that their capitals become proportionate to their new profit-sharing ratio which was to be Anil 3/5th and Raman 2/5th.
Calculate amount to be paid or to be brought in by the continuing partners assuming that a minimum cash and bank balance of ₹ 6,000 was to be maintained.
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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