[CBSE] Q. 27 Death of Partner Solution TS Grewal Class 12 (2024-25)

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Solution of Question number 27 of the Death of Partner Chapter of TS Grewal Book 2024-25 Edition CBSE Board.

Trisha, Anisha and Rishika were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance sheet as at 31s March, 2022 was as follows:

Balance Sheet of Trisha and Rishika as at 31st March, 2022

LiabilitiesAssets
Capital A/cs:
Trisha
Anisha
Rishika
General Reserve
Creditors
3,00,000
2,00,000
1,00,000
50,000
50,000
Plant and Machinery
Stock
Debtors
Cash at Bank
5,00,000
1,00,000
60,000
40,000
7,00,0007,00,000

Trisha died on 31st July, 2022. According to the partnership deed, the executors of the deceased partner were entitled to:

(I) Balance in Partner’s Capital Account.

(ii) Salary @ ₹ 15,000 per quarter.

(iii) Share of goodwill calculated on the basis of twice the average of past three year’s profits.

(iv) Share of profits from the closure of the last accounting year till the date of death on the basis of last year’s profit. Profit for 2019-20, 2020-21 and 2021-22 were ₹ 1,00,000, ₹ 2,00,000 and ₹ 1,50,000 respectively.

(v) Trisha withdrew ₹ 20,000 on 1st May, 2022 for her personal use.

Showing your working clearly, prepare Trisha’s Capital Account to be rendered to her executors.

[Ans.: Amount due to Trisha’s Excecutors – ₹ 4,60,000.]

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
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27Question – 27
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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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