Solution of Q 7 Change in Profit-Sharing Ratio TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 7, Chapter 3 Change in Profit-Sharing Ratio Among the Existing Partners, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 7
X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. From 1st April, 2023, they decided to share profits and losses equally. The Partnership Deed provides that in the event of any change in the profit-sharing ratio, goodwill is to be valued at two years’ purchase of the average profit of the preceding five years. The profits and losses of the preceding years ended 31st March, are:
Solution
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About this solution
This is Chapter 3 Change in Profit Sharing Ratio 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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