[ISC] Q. 1 Retirement of Partner TS Grewal Solution Class 12 (2023-24)

Solution to Question number 1 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2023 – 24 session?

Amit, Basu and Chirag are partners sharing profits in the ratio of 1/2, 3/10 and 1/5. Find new ratio of the remaining partners if: (i) Amit retires, (ii) Basu retires, and (iii) Chirag retires.

Solution:-

When a partner retires and information about the new profit-sharing ratio among the remaining or continuing partners is not given, it is assumed that remaining or continuing partners will share future profits and losses in their old profit-sharing ratio.

The old profit-sharing ratio of Amit, Basu, and Chirag after taking LCM 10 and making base equal is 5:3:2

Calculation of the New Profit-sharing Ratio of the remaining or continuing partners by striking out the share of the outgoing partner. Thus –

i) If Amit Retires, the New profit-sharing ratio between Basu and Chirag is 3:2

ii) If Basu Retires, New Profit Sharing ratio between Amit and Chirag is 5:2

iii) If Chirag Retires, the new profit-sharing ratio between Amit and Basu is 5:3

Here is the list of all solutions of Retirement of Partners TS grewal ISC class 12 (2023 – 24)

S.N	Solutions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Solutions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Solutions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Solutions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

S.N	Solutions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48