[ISC] Q. 38 Retirement of Partner TS Grewal Solution Class 12 (2023-24)

Solution to Question number 38 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2023 – 24 session?

Baldev, Hans and Gopal were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2023 is as under:

Liabilities	₹	Assets	₹
Creditors Bills Payable General Reserve Capital A/cs: Baldev Hans Gopal	40,000 6,000 12,000 40,000 40,000 30,000	Cash at Bank Debtors Less: PDD Stock Furniture Machinery Goodwill	18,000 22,000 18,000 30,000 70,000 10,000
	1,68,000		1,68,000

Han retired on 1st April, 2023 on the following terms:

(i) Provision for Doubtful Debts will be raised by ₹ 1,000.

(ii) Stock will be brought down by 10% and Furniture by 5%.

(iii) Liability for Workmen Compensation to the extent of ₹ 1,100 would be created.

(iv) Creators will be written back by ₹ 6,000.

(v) Goodwill of the firm is valued at ₹ 22,000.

(vi) Hans is paid in full with the amount brought in by Baldev and Gopal in such a manner that their capitals are in proportion to their profit-shairng ratio of 3 : 2.

Prepare Revaluation Account, Partner’s Capital Account and Balance Sheet of Baldev and Gopal.

Solution:-

Here is the list of all solutions of Retirement of Partners TS grewal ISC class 12 (2023 – 24)

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
48	Question – 48