Solution of Q 55 Retirement of Partner TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 55, Chapter 6 Retirement of a Partner, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 55
Amrit, Bhanu and Charu were partners in a firm sharing profits equally. Bhanu retired on 30th September, 2021. Profit till the date of retirement was to be estimated based on last year’s profit. Profit for the year ended 31st March, 2021, was ₹ 3,60,000.
Calculate Bhanu’s share of profit till his retirement and pass Journal entry/entries for the same when:
- (i) The profit-sharing ratio between Amrit and Charu does not change; and
- (ii) The new profit-sharing ratio between Amrit and Charu changes to 3 : 2.
Solution
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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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