[CBSE] Q. 12 Change in profit sharing ratio Solution TS Grewal Class 12 (2023-24)

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Solution to Question number 12 of the Change in Profit sharing ratio chapter 4 of TS Grewal Book class 12 CBSE 2023-24 Edition?

A, B and C shared profits and losses in the ratio of 3 : 2 : 1 respectively. With effect from 1st April, 2023, they agreed to share profits equally. The goodwill of the firm was valued at ₹ 18,000.

Pass necessary Journal entries when:

(a) Goodwill is adjusted through Partner’s Capital Accounts; and

(b) Goodwill is raised and written off.

Solution:-

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Anurag Pathak

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