[CBSE] Q. 29 Solution of Retirement of Partner TS Grewal Class 12 (2023-24)

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Solution to Question number 29 of the Retirement of Partner chapter 5 of TS Grewal Book 2023-24 Edition CBSE Board?

X, Y and Z are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Z retired from the firm on 1st April, 2022. On the date of Z’s retirement, following balances existed in the books of the firm.

General Reserve – ₹ 1,80,000

Profit & Loss Account (Dr.) ₹ 30,000

Workmen Compensation Reserve ₹ 24,000 which was no more required

Employee’s Provident Fund ₹ 20,000.

Pass Necessary Journal entries for the adjustment of these items on Z’s retirement.

Solution:-

Here is the list of all Solutions of Retirement of Partners of TS Grewal class 12 CBSE 2023-24.

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59Question – 59
60Question – 60
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Anurag Pathak

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