[CBSE] Q. 16 solution of Retirement of Partner TS Grewal Class 12 (2026-27)

Solution to Question number 16 of the Retirement of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board.

A, B and C are partners sharing profits in the ratio of 3 : 2 : 1. B retired and the new profit sharing ratio between A and C was 2 : 1. On B’s retirement, the goodwill of the firm was valued at ₹ 90,000. Pass necessary Journal entry for the retirement of goodwill on B’s retirement.

[Ans.: Dr. A’s Capital A/c and C’s Capital A/c by ₹ 15,000 each; Cr. B’s Capital A/c by ₹ 30,000; Gaining Ratio – 1 : 1.]

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