[CBSE] Q. 30 solution of Retirement of Partner TS Grewal Class 12 (2026-27)

Solution to Question number 30 of the Retirement of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board.

Asha, Naveen and Shalini were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Goodwill appeared in their books at a value of ₹ 80,000 and General Reserve at ₹ 40,000. Naveen decided to retire from the firm. On the date of his retirement, goodwill of the firm was valued at ₹ 1,20,000. The new profit sharing ratio decided among Asha and Shalini is 2 : 3.

Record necessary Journal entries on Naveen’s retirement.

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