[DK Goel] Q. 29, 30 Retirement of Partner Solutions Class 12 CBSE (2026-27)

Here are the solutions of Question number 29 and 30 of Retirement of Partner chapter 5 of DK Goel Class 12 CBSE (2026-27)

Q. 29. A, B, C and D are partners sharing profits in the ratio of 4 : 3 : 2 : 2. C retires and the remaining partners decided to share future profits in 5 : 3 : 2. on the date of C’s retirement there was a debit balance of ₹ 30,800 in the profit and loss account. Show the necessary journal entry for the treatment of profit and loss account balance.

[Ans. Capital accounts of all partners will be debited in old ratio.]

Solution:-

Q. 30. A, B and C are partners sharing profits and losses in the ratio of 2 : 2 : 1. A retries and the new ratio between B and C is agreed at 3 : 2. Give journal entries on A’s retirement in the following case:

Investment Fluctuation Reserve appears in the books at ₹ 40,000, when Investments (market value ₹ 1,00,000) appear at ₹ 85,000.

[Ans. (i) Investment Flcuctuation Reseve of ₹ 40,000 will be credited to A, B and C in 2 : 2 : 1.

(ii) Debit Investments and Credit Revaluation A/c by ₹ 15,000.

(iii) Revaluation Profit of ₹ 15,000 will be credited to A, B and C in 2 : 2 : 1.

Solution:-