[CBSE] Q. 7 Change in profit sharing ratio Solution TS Grewal Class 12 (2026-27)

Solution to Question number 7 of the Change in Profit Sharing Ratio chapter 4 of TS Grewal Book class 12 CBSE 2026-27 Edition.

Mansi, Mona and Amar are partners sharing profits equally. They decided that in future Z will get 1/5th share in profits. On the day of change, firm’s goodwill is valued at ₹ 30,000. Give Journal entry arising on account of change in Profit-sharing Ratio.

[Ans. Dr. X’s Capital A/c by ₹ 2,000; Y’s Capital A/c by ₹ 2,000; Cr. Z’s Capital A/c by ₹ 4,000.]

Solution:-