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

Share your love

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:

LiabilitiesAssets
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
2,75,0002,75,000

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:-

Here is the list of all Solutions

S.NQuestions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NQuestions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NQuestions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
26Question – 26
27Question – 27
28Question – 28
29Question – 29
30Question – 30
31Question – 31
32Question – 32
33Question – 33
Share your love
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 and can download the Android & ios app for free lectures.

Articles: 6122

Leave a Reply

Your email address will not be published. Required fields are marked *

close

Ad Blocker Detected!

Our Website is made possible by displaying online advertisements to our visitors. Please consider supporting us and remove the AD - Blocker to read this article.

Refresh