[ISC] Q. 22 solution of Retirement of Partner TS Grewal Class 12 (2022-23)

Are you looking for the solution to Question number 22 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2022-23 session?

Krish, Drish and Harsh were carrying on business in partnership sharing profits and losses in the ratio of 3 : 2 : 1. On 31st March, 2022, Balance Sheet of the firm stood as follows:

Liabilities	₹	Assets	₹
Sundry Creditors Capital A/cs: Krish Drish Harsh	13,590 15,000 10,000 10,000	Cash Debtors Stock Building	5,900 8,000 11,690 23,000
	48,590		48,590

Drish retired on 1st April, 2022 on the following terms:

(i) Building be appreciated by ₹ 7,000.

(ii) Provision for Doubtful Debts be made @ 5% on Debtors.

(iii) Goodwill of the firm be valued at ₹ 9,000.

(iv) ₹ 5,000 be paid to Drish immediately and the balance due to him be treated as a loan carrying interest @ 6% p.a.

Pass Journal entries to record the above-mentioned transactions and show Balance Sheet of the firm as it should appear immediately after Drish’s retirement.

Solution:-

Here is the list of all solutions of Retirement of Partners TS grewal ISC class 12 (2022-23)

S.N	Solutions
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	Solutions
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	Solutions
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	Solutions
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	Solutions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47