[CBSE] Q. 47 solution of Retirement of Partner TS Grewal Class 12 (2026-27)

Solution to Question number 47 of the Retirement of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board.

Chandan, Deepak and Elvish were partners in a firm sharing profits and losses in the ratio of 1 : 2 : 2. Their Balance Sheet as at 31st March, 2024 stood as follows:

Balance Sheet of Chandan, Deepak and Elvish as at 31st March, 2024

Liabilities	₹	Assets	₹
Capitals: Chandan Deepak Elvish	7,00,000 5,00,000 3,00,000	Fixed Assets	27,00,000
General Reserve	4,50,000	Stock	3,00,000
Creditors	13,50,000	Debtors	2,00,000
		Cash	1,00,000
	33,00,000		33,00,000

Chandan retired from the firm on 1st April, 2024 on the following terms:

(i) Fixed assets were to be depreciated by 10%

(ii) Debtors of ₹ 30,000 were to be written off as bad debts.

(iii) Goodwill of the firm was valued at ₹ 6,00,000 and the retiring partner’s shares is adjusted through the Capital Accounts of the remaining partners.

(iv) Chandan was paid through cash brought in by Deepak and Elvish in such a way so as to make their capitals proportionate to their new profit-sharing ratio.

Prepare Revaluation Account and Partner’s Capital Accounts.

[Ans. Loss on Revaluation – 3,00,000; Capital A/cs: Deepak – ₹ 8,25,000; Elvish – ₹ 8,25,000; Cash brought in by Deepak – ₹ 3,25,000; Elvish – ₹ 5,25,000; Cash paid to Chandan – ₹ 8,50,000.]

Solution:-

Here is the list of all Solutions of Retirement of Partners of TS Grewal class 12 CBSE 2026-27.

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Questions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Questions
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

S.N	Questions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

S.N	Questions
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