[DK Goel] Q. 49, 50 Retirement of Partner Solutions Class 12 CBSE (2026-27)

Here are the solutions of Question number 49 and 50 of Retirement of Partner chapter 5 of DK Goel Class 12 CBSE (2026-27)

Q. 49. P, Q and R were partners sharing profits and losses in the ratio of 5 : 3 : 2 respectively. As at 31st March, 2022 the Balance Sheet of the firm stood as follows:

Liabilities	₹	Assets	₹
Sundry Creditors	5,300	Fixed Assets	25,000
Expenses Outstanding	700	Stock	11,000
Reserve	3,000	Book Debts	9,000
Capitals: P Q R	20,000 10,000 8,000	Cash at Bank	2,000
	47,000		47,000

On this date Q decided to retire and for this purpose:

(a) Goodwil was valued at ₹ 19,000.

(b) Fixed Assets were valued at ₹ 30,000;

(c) Stock was considered as worth ₹ 10,000.

Q was to be paid through cash, brought in by P and R, in such a way as to make their capitals proportionate to their new profit sharing ratio which was to be P 3/5 and R 2/5.

Record these matters in the journal of the firm and prepare the resultant Balance Sheet.

[Ans. Gain on revaluation ₹ 4,000; Amount paid to Q ₹ 17,800; Capital A/cs P ₹ 27,000, R ₹ 18,000 and Balance Sheet total ₹ 51,000; Gaining Ratio 1 : 2.]

Solution:-

Q. 50. P, Q and R are partners in a firm. R retires from the firm. On the date of retirement, ₹ 3,00,000 is due to him. It is agreed to pay him in instalments every year at the end of the year. Prepare R’s Loan Account in the following cases:

(I) Five yearly instalments plus interest @ 15% p.a.

(ii) Instalments of ₹ 1,00,000 which already includes interest @ 15% p.a. on the outstanding balance for the first four years and the balance including interest in the fifth year.

[Ans. First Method: Interest : 1st Year ₹ 45,000; 2nd Year ₹ 36,000; 3rd Year ₹ 27,000; 4th Year ₹ 18,000; 5th Year ₹ 9,000;

Second Method: Interest : 1st Year ₹ 45,000; 2nd Year ₹ 36,750; 3rd Year ₹ 27,263; 4th Year ₹ 16,352; 5th Year ₹ 3,805; Final Payment ₹ 29,170]

Solution – (i)

Solution – (ii)