[CBSE] Q. 26 solution of Retirement of Partner TS Grewal Class 12 (2026-27)
Solution to Question number 26 of the Retirement of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board.
Sangeeta, Saroj and Shanti are partners sharing profits and losses in the ratio of 5 : 3 : 2. Shanit retired and on the date of her retirement, following adjustements were agreed:
a) The value of furniture is to be increased by ₹ 12,000
b) The value of stock to be decreased by ₹ 10,000.
c) Machinery of the books value of ₹ 50,000 is to be reduced by 10%.
d) A Provision for doubtful debts @ 5% is to be created on debtors of book value of ₹ 40,000.
e) Unrecorded investment worth ₹ 10,000.
f) A creditor of ₹ 1,000 is not likely to be claimed, hence, is to be written back.
Pass necessary Journal entries.
Solution:-
