[DK Goel] Q. 91, 92 Retirement of Partner Solutions Class 12 CBSE (2026-27)
Here are the solutions of Question number 91 and 92 of Retirement of Partner chapter 5 of DK Goel Class 12 CBSE (2026-27)
Q. 91. L, M, N and O are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1 : 1. M and O decided to retire from the firm. The goodwill of the firm was valued at ₹ 3,60,000. L and N decided to share future profits equally.
Find out Gaining Ratio and Pass necessary journal entry for the treatment of goodwill.
[Ans. Debit L’s Capital A/c by ₹ 60,000 and N’s Capital A/c by ₹ 1,20,000; and Credit M’s Capital A/c by ₹ 1,20,000 and O’s Capital A/c by ₹ 60,000.]
Solution:-
Q. 92 (a). A, B and C are partners in a firm sharing profits in the ratio of 5 : 3 : 2. A retires and his share is taken up by B and C equally. Find the new profit sharing ratio and the gaining ratio.
Solution:-
Q. 92(b). The goodwill of the firm is valued at ₹ 2,00,000. No goodwill account appears in the books. Pass necessary journal entry for recording the goodwill in the above mentioned case.
Solution:-
