[ISC] Q. 20 Retirement of Partner TS Grewal Solution Class 12 (2026-27)
Solution to Question number 20 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2026-27 session?
Janvi, Sona and Aditi are partners sharing profits and losses in the ratio of 3 : 2 : 2. Aditi retired and on the day of Aditi’s retirement, goodwill is valued at 1,75,000.
Pass the necessary Journal entry for treatment of Goodwill in the following cases:
(a) When nothing is specified about New Profit-sharing Ratio and Gaining Ratio.
(b) When Gaining Ratio is 1: 1.
(c) When Aditi’s share is taken over by Janvi.
(d) When Janvi’s sacrifice is 1/7 and Sona’s gain is 3/7.
Solution:-
