[ISC] Q. 19 Retirement of Partner TS Grewal Solution Class 12 (2026-27)

Solution to Question number 19 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2026-27 session?

Kapil, Angad and Gush are partners sharing profits in the ratio of 1 : 2 : 3. Gush retires and his capital, after making adjustments for reserves and profits on revaluation stands at ₹ 2,70,000. Kapil and Angad agreed to pay him ₹ 3,00,000 in full settlement of his claim. Record necessary Journal entry for the treatment of goodwill if new profit-sharing ratio is decided at 1 : 3.

Solution:-

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