[CBSE] Q. 54 solution of Retirement of Partner TS Grewal Class 12 (2026-27)

Solution to Question number 54 of the Retirement of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board.

The Balance Sheet of Asha, Deepa and Lata who were sharing profits in the ratio of 5 : 3 : 2 as at 31st March, 2023 is as follows:

Liabilities	₹	Assets	₹
Creditors	50,000	Cash at Bank	40,000
Employees Provident Fund	10,000	Sundry Debtors	1,00,000
Profit & Loss A/c	85,000	Stock	80,000
Capital A/cs: Asha Deepa Lata	40,000 62,000 33,000	Fixed Assets	60,000
	2,80,000		2,80,000

Asha retired on 1st April, 2024 and Deepa and Lata decided to share profits in future in the ratio of 3 : 2 respectively.

The other terms on retirement were:

(a) Goodwill of the firm is to be valued at ₹ 80,000.

(b) Fixed Assets are to be depreciated to ₹ 57,500.

(c) Make a Provision for Doubtful Debts at 5% on Debtors.

(d) A liability for claim, included in Creditors for ₹ 10,000, is settled at ₹ 8,000.

The amount to be paid to Asha by Deepa and Lata in such a way that their Capitals are proportionate to their profit-sharing ratio and leave a balance of ₹ 15,000 in the Bank Account.

Prepare Revaluation Account and Partner’s Capital Accounts.

[Ans.: Loss on Revaluation – 5,500; Payment to Asha – ₹ 1,19,750; Partner’s Capital Accounts: Deepa – ₹ 1,18,500; Lata – ₹ 79,000.]

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