[ISC] Q. 15 Retirement of Partner TS Grewal Solution Class 12 (2026-27)

Solution to Question number 15 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2026-27 session?

Akash, Atul and Kirti are partners sharing profits in the ratio of 4 : 3 : 2. Atul retires from the business. His share of goodwill is ₹ 7,200. Goodwill exists in the books at its full value. Now, it is decided not to show goodwill in the books. Akash and Kirti decided to share future profits and losses in the ratio of 5 : 3. Pass necessary Journal entries.

Solution:-

Working Notes:-