[ISC] Q. 29 Retirement of Partner TS Grewal Solution Class 12 (2026-27)

Solution to Question number 29 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2026-27 session?

Mohit, Sohan are Rahul are partners in a firm. Sohan retired from the firm on 1st April, 2023 and his claim including his capital and share of goodwill was ₹ 1,50,000. There was unrecorded furniture estimated at ₹ 7,500, half of which was given to settle unrecorded liability of ₹ 15,000 for ₹ 7,500 and remaining half given to Sohan at 10% less in part satisfaction of his claim. Balance of Sohan’s claim was paid by cheque. Give the Journal entries for the above.

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