[CBSE] Q. 8 Death of Partner Solution TS Grewal Class 12 (2024-25)

Solution of Question number 8 of the Death of Partner Chapter of TS Grewal Book 2024-25 Edition CBSE Board.

P, Q and R were partners in a firm sharing profits in the ratio of 3 : 2 : 1. P dies and the new profit sharing ratio of Q and R was agreed to be equal. On P’s death, goodwill of the firm was valued at ₹ 60,000.

Pass the necessary entries for the treatment of goodwill under the following conditions:

(a) When Goodwill does not exist in the books of account; and

(b) When Goodwill exists in the books of account at ₹ 30,000.

[Ans.: (a) Dr. Q’s Capital A/c by ₹ 10,000; R’s Capital A/c by ₹ 20,000 and Cr. P’s Capital A/c by ₹ 30,000;

(b) (I) Dr. P’s Capital A/c by ₹ 15,000; Q’s Capital A/c by ₹ 10,000; and R’s Capital A/c by ₹ 5,000; Cr. Goodwill A/c by ₹ 30,000;

(ii) Dr. Q’s Capital A/c by ₹ 10,000; R’s Capital A/c by ₹ 20,000 and Cr. P’s Capital A/c by ₹ 30,000.]

Solution:-

Case – (a)

Case – (b)

Working Notes:-

Solutions of Death of Partner chapter 7 of TS Grewal Book class 12 Accountancy 2024-25 CBSE Board

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