Q. 20 DK Goel Retirement of Partner Solutions Class 12 CBSE (2024-25)
Here are the solutions of Question number 20 of Retirement of Partner chapter 5 of DK Goel Class 12 CBSE (2024-25)
Q. 20 (A). P, Q and R are equal partners. Goodwill is appearing in their books at ₹ 4,00,000. R retires and on the day of R’s retirement Goodwill is valued at ₹ 2,50,000. Pass the necessary journal entries.
Solution:-
Q. 20 (B) A, B and C are partners sharing profits and losses in the ratio of 2 : 2 : 1. C decided to retire and on this date goodwill of the firm is valued at ₹ 2,00,000. Pass entries when goodwill account is already appearing in the books at ₹ 1,50,000.
Solution:-
