[CBSE] Q. 17 Death of Partner Solution TS Grewal Class 12 (2024-25)

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Solution of Question number 17 of the Death of Partner Chapter of TS Grewal Book 2024-25 Edition CBSE Board.

A, B and C were partners sharing profits in the ratio of 3 : 2 : 1. The firm closes its books on 31st March every year. B died on 30th June, 2022. On his death, Goodwill of the firm valued at ₹ 6,00,000. B’s share in profit or loss till the date was to be calculated on the basis of previous year’s profit which was ₹ 15,00,000 (Loss). Pass necessary Journal entries for goodwill and his share of loss.

[Ans. Share of Goodwill – ₹ 2,00,000; B’s Share of Loss – ₹ 1,25,000. Journal Entry for Goodwill: Dr. A’s Capital A/c by ₹ 1,50,000 and C’s Capital A/c by ₹ 50,000; Cr. B’s Capital A/c by ₹ 2,00,000. For Share of Loss: Dr. B’s Capital A/c and Cr. Profit & Loss Suspense A/c by ₹ 1,25,000.

Solution:-

Solutions of Death of Partner chapter 7 of TS Grewal Book class 12 Accountancy 2024-25 CBSE Board

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1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
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12Question – 12
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15Question – 15
16Question – 16
17Question – 17
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30Question – 30
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31Question – 31
32Question – 32
33Question – 33
34Question – 34
35Question – 35
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Anurag Pathak
Anurag Pathak

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2 Comments

  1. Please correct the mistake in Q17 of death of a partner
    The loss for the year is 15,00,000 not 1,50,000.
    B’s share of loss is 15,00,000× 2÷6 × 3÷12 = 125,000
    and also rectify the entry

  2. Please correct the mistake in Q17 of death of a partner
    The loss for the year is 15,00,000 not 1,50,000.
    B’s share of loss is 15,00,000× 2÷6 × 3÷12 = 125,000

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