[ISC] Q. 38 Retirement of Partner TS Grewal Solution Class 12 (2024-25)

Solution to Question number 38 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2024-25 session.

Anil, Dinesh and Raman were partners sharing profits and losses in the ratio of 5 : 3 : 2. Dinesh retired on 1st April, 2023. On that date, capitals of Anil, Dinesh and Raman after adjutments stood at ₹ 86,400; ₹ 73,200 and ₹ 22,400 respectively. Cash and bank balance on 31st March, 2023 was ₹ 8,000. Dinesh was to be paid through amount brought in by Anil and Raman in a manner so that their capitals become proportionate to their new profit sharing ratio which was to be Anil 3/5th and Raman 2/5th. Calculate amount to be paid or to be brought in by the continuing partners assuming that a minimum cash and bank balance of ₹ 6,000 was to be maintained.

Solution:-

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