[CBSE] Q. 42 Solution of Retirement of Partner TS Grewal Class 12 (2023-24)
Solution to Question number 42 of the Retirement of Partner chapter 5 of TS Grewal Book 2023-24 Edition CBSE Board?
Ram, Manohar and Joshi were partners in a firm. Manohar retired and his claim including his capital and share of goodwill was ₹ 1,80,000. There was unrecorded furniture estimated at ₹ 9,000, half of which was given for an unrecorded liability of ₹ 18,000 in settlement of claim of ₹ 9,000 and remaining half was taken by Manohar at a discount of 10% in part satisfaction of his claim. Balance of Manohar’s claim was discharged by bank draft. Pass necessary Journal entries to record the above transactions.
[Ans.: Loss on Revaluation – ₹ 4,950. For Payment to Manohar: Dr. Manohar’s Capital A/c by ₹ 1,78,350; Cr. Furniture A/c by ₹ 4,050 and Bank A/c by ₹ 1,74,300.]
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Working Notes:-
Here is the list of all Solutions of Retirement of Partners of TS Grewal class 12 CBSE 2023-24.
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| 1 | Question – 1 |
| 2 | Question – 2 |
| 3 | Question – 3 |
| 4 | Question – 4 |
| 5 | Question – 5 |
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| 11 | Question – 11 |
| 12 | Question – 12 |
| 13 | Question – 13 |
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| 16 | Question – 16 |
| 17 | Question – 17 |
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| 25 | Question – 25 |
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| 28 | Question – 28 |
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| 31 | Question – 31 |
| 32 | Question – 32 |
| 33 | Question – 33 |
| 34 | Question – 34 |
| 35 | Question – 35 |
| 36 | Question – 36 |
| 37 | Question – 37 |
| 38 | Question – 38 |
| 39 | Question – 39 |
| 40 | Question – 40 |
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| 41 | Question – 41 |
| 42 | Question – 42 |
| 43 | Question – 43 |
| 44 | Question – 44 |
| 45 | Question – 45 |
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| 48 | Question – 48 |
| 49 | Question – 49 |
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| 51 | Question – 51 |
| 52 | Question – 52 |
| 53 | Question – 53 |
| 54 | Question – 54 |
| 55 | Question – 55 |
| 56 | Question – 56 |
| 57 | Question – 57 |
| 58 | Question – 58 |
| 59 | Question – 59 |
| 60 | Question – 60 |
