Solution of Q 20 Death of a Partner TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 20, Chapter 6 Death of a Partner, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 20
Ajay, Bhawna and Shreya were partners sharing profits in the ratio of 2 : 2 : 1. On 1st July, 2022 Shreya died. The books of accounts are closed on 31st March every year. Sales for the year 2021–22 ₹ 5,00,000 and that from 1st April to 30th June, 2022 were ₹ 1,40,000. Rate of profit during the past three years had been 10% on sales. Since Shreya’s legal representative was her only son, who is differently abled, it was decided that the profit for the purpose of settling Shreya’s account is to be calculated as 20% on sales.
Calculate Shreya’s share of profits till the date of her death and pass necessary Journal entry for the same.
Solution
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About this solution
This is Chapter 6 Death of a 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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