[CBSE] Q. 56 Solution of Retirement of Partner TS Grewal Class 12 (2023-24)

Solution to Question number 56 of the Retirement of Partner chapter 5 of TS Grewal Book 2023-24 Edition CBSE Board?

Question – 56

Amrit, Bhanu and Charu were partners in a firm sharing profits equally. Bhanu retired on 30th September, 2022. Profit till the date of retirement was to be estimated based on last year’s profit. Profit for the year ended 31st March, 2022, was ₹ 3,60,000.

Calculate Bhanu’s share of profit till his retirement and pass Journal entry/entries for the same when:

i) The profit sharing ratio between Amrit and Charu does not change; and

ii) The new profit sharing ratio between Amrit and Charu changes to 3 : 2.

[Ans.: i) Dr Profit & Loss Suspense A/c by ₹ 60,000 and Cr. Bhanu’s Capital A/c by ₹ 60,000. ii) Dr. Amrit’s Capital A/c by ₹ 48,000 and Charu’s Capital A/c by ₹ 12,000; Cr. Bhanu’s Capital A/c by ₹ 60,000.]

Solution:-

Here is the list of all Solutions of Retirement of Partners of TS Grewal class 12 CBSE 2023-24.

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