[CBSE] Q. 38 solution of Retirement of Partner TS Grewal Class 12 (2026-27)

Solution to Question number 38 of the Retirement of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board.

Ashok, Bhaskar and Chaman were in partnership sharing profits and losses equally. ‘Bhaskar’ retires from the firm. After adjustments, his Capital Account shows a credit balance of ₹ 3,00,000 as on 1st April, 2019. Balance due to ‘Bhaskar’ is to be paid in three equal annual instalments along with interest @ 10% p.a. Prepare Bhaskar’s Loan Account until he is paid the amount due to him. The firm closes its books on 31st March every year.

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