[CBSE] Q. 52 solution of Retirement of Partner TS Grewal Class 12 (2026-27)

Solution to Question number 52 of the Retirement of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board.

Sushil, Satish and Samir are partners sharing profits in the ratio of 5 : 3 : 2. Satish retires on 1st April, 2023 from the firm, on which date capitals of Sushil, Satish and Samir after all adjustments are ₹ 1,03,680, ₹ 87,840 and ₹ 26,880 respectively. The Cash and Bank Balance on that date was ₹ 9,600. Satish is to be paid through amount brought by Sushil and Samir in such a way as to make their capitals proportionate to their new profit sharing ratio which will be Sushil 3/5 and Samir 2/5. Calculate the amount to be paid or to be brought by the continuing partners if minimum Cash and Bank balance of ₹ 7,200 was to be maintained and pass the necessary Journal entries.

[Ans.: Sushil and Samir will bring ₹ 25,920 and ₹ 59,520 respectively]

Solution:-