[ISC] Q. 25 solution of Retirement of Partner TS Grewal Class 12 (2022-23)

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Are you looking for the solution to Question number 25 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2022-23 session?

On 1st April, 2019, Manoj retired from partnership and his share was determined on the date of retirement from the following:

Goodwill
Interest on Capital
Salary
Drawings
Interest on Drawings
Share of Profit
Capital
30,000
750
2,250
30,000
3,000
37,500
1,12,500

The amount due to Manoj was to be kept with the firm as a loan bearing interest @ 10% p.a. and was to be paid to Manoj by annual instalments of ₹ 75,000 each, interest being calculated @ 10% p.a. on the unpaid balances. The firm instalment was paid on 31st March, 2020.

You are required to prepare Manoj’s Capital Account and also Manoj’s Loan Account until the payment of the whole amount due to him is made.

Solution:-

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

S.NSolutions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NSolutions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NSolutions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
26Question – 26
27Question – 27
28Question – 28
29Question – 29
30Question – 30
S.NSolutions
31Question – 31
32Question – 32
33Question – 33
34Question – 34
35Question – 35
36Question – 36
37Question – 37
38Question – 38
39Question – 39
40Question – 40
S.NSolutions
41Question – 41
42Question – 42
43Question – 43
44Question – 44
45Question – 45
46Question – 46
47Question – 47
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