[CBSE] Q. 30 Change in profit sharing ratio Solution TS Grewal Class 12 (2023-24)

Solution to Question number 30 of the Change in Profit sharing ratio chapter 4 of TS Grewal Book class 12 CBSE 2023-24 Edition?

A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1. Their Balance Sheet as on 31st March, 2015 was as follows:

Liabilities	₹	Assets	₹
Creditors Bills Payable General Reserve Capital A/cs: A B C	50,000 20,000 30,000 1,00,000 50,000 25,000	Land Building Plant Stock Debtors Bank	50,000 50,000 1,00,000 40,000 30,000 5,000
	2,75,000		2,75,000

From 1st April, 2015, A, B and C decided to share profits equally. For this it was agreed that:

i) Goodwill of the firm will be valued at ₹ 1,50,000.

ii) Land will be revalued at ₹ 80,000 and building be decpreciated by 6%

iii) Creditors of ₹ 6,000 were not likely to be claimed and hence should be written off.

Prepare Revaluation Account, Partner’s Capital Accounts and Balance Sheet of the reconstituted 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
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10	Question – 10

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

S.N	Questions
21	Question – 21
22	Question – 22
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24	Question – 24
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29	Question – 29
30	Question – 30
31	Question – 31
32	Question – 32
33	Question – 33