[DK Goel] Q. 17, 18 Retirement of Partner Solutions Class 12 CBSE (2026-27)
Here are the solutions of Question number 17 and 18 of Retirement of Partner chapter 5 of DK Goel Class 12 CBSE (2026-27)
Q. 17. X, Y and Z are partners sharing profits in the ratio of 5 : 4 : 3. X retires from the firm and it is decided that new profit sharing ratio between Y and Z will be same as existing between X and Y. Calculate new ratio and gaining ratio.
[Ans. New Ratio 5 : 4; Gaining Ratio 8 : 7]
Solution:-
Q. 18 (A). L, M and N are three partners sharing profits in the ratio of 4 : 3 : 2 respectively. M retires and the goodwill is valued at ₹ 1,08,000. No goodwill account appears as yet in the books of the firm. L and N will share profits in future in the ratio of 5 : 3 respectively. Pass Journal Entry for goodwill.
[Ans. M’s share of goodwill will be adjusted to the Capital A/cs of L and N in their Gaining Ratio 13 : 11.]
Solution:-
Q. 18 (B) Ashok, Rakesh and Mukesh were partners sharing profits and losses in the ratio of 2 : 2 : 1. On 1st April, 2023, their goodwill was valued at ₹ 3,00,000, there being no account for it in the books. On this date Rakesh retired. Pass the Journal Entry to record goodwill.
[Ans. Rakesh’s share of goodwill will be adjusted to the Capital A/cs of Ashok and Mukesh in their Gaining Ratio 2 : 1.]
Solution:-
