Solution of Q 27 Retirement of Partner TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 27, Chapter 6 Retirement of a Partner, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 27
X, Y and Z are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Z retired from the firm on 1st April, 2022. On the date of Z’s retirement, following balances existed in the books of the firm:
General Reserve ₹ 1,80,000
Profit & Loss Account (Dr.) ₹ 30,000
Workmen Compensation Reserve ₹ 24,000 which was no more required
Employees’ Provident Fund ₹ 20,000.
Pass necessary Journal entries for the adjustment of these items on Z’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.
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