[ISC] Q. 19 solution of Retirement of Partner TS Grewal Class 12 (2022-23)

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Are you looking for the solution to Question number 19 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2022-23 session?

Alok, Ankit and Bipin are partners sharing profits and losses in the ratio of 3 : 2 : 1. Ankit retired on 1st April, 2022. Alok and Bipin will share future profits in the ratio of 3 : 2. They also decided to give effect by passing an adjustment entry of the following accumulated profits, losses and reserves without affecting their book values:

Book Values (₹)
General Reserve
Contingency Reserve
Profit and Loss A/c (Cr.)
Advertisement Suspense A/c (Dr.)
30,000;
5,000
15,000
20,000

Pass the necessary adjustment entry.

Solution:-

Here is the list of all solutions of Retirement of Partners TS grewal ISC class 12 (2022-23)

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Anurag Pathak

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