[CBSE] Q. 22 Change in profit sharing ratio Solution TS Grewal Class 12 (2024-25)

Solution to Question number 22 of the Change in Profit sharing ratio chapter 4 of TS Grewal Book class 12 CBSE 2024-25 Edition.

Hari, Kunal and Uma are partners in a firm sharing profits and losses in the ratio of 5 ; 3 : 2. From 1st April 2018 they decided to share future profits and losses in the ratio of 2 : 5 : 3. Their Balance sheet showed a balance of ₹ 75,000 in the Profit and Loss Account and a balance of ₹ 15,000 in investment Fluctuation Fund. For this purpose, it was agreed that:

i) Goodwill of the firm was valued at ₹ 3,00,000.

ii) That investment (having a book value of ₹ 50,000) was valued at ₹ 35,000.

iii) That stock having a book value of ₹ 50,000 be depreciated by 10%

Pass the necessary Journal entries for the above in the books of the firm.

Solution:-

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S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Questions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29