Solution of Q 14 Retirement of Partner TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 14, Chapter 6 Retirement of a Partner, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 14
P, Q, R and S were partners in a firm sharing profits in the ratio of 5 : 3 : 1 : 1. On 1st January, 2021, S retired from the firm. On S’s retirement, goodwill of the firm was valued at ₹ 4,20,000. New profit-sharing ratio among P, Q and R will be 4 : 3 : 3.
Showing your working notes clearly, pass necessary Journal entry for the treatment of goodwill in the books of the firm on S’s retirement.
Solution
All questions of Chapter 6
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About this solution
This is Chapter 6 Retirement of 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.
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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