[ISC] Q. 46 Retirement of Partner TS Grewal Solution Class 12 (2023-24)

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Solution to Question number 46 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2023 – 24 session?

Charu, Harsha and Vaishali are equal partners in a firm. Charu retired from the firm on 30th June, 2022 and according to the agreement, the share of profits of a retiring or a deceased partner up to the date of the retirement/death is to be calculated on the basis of the average profit for the last 5 years. The net profits for the last 5 years were: I – ₹ 14,000; II – ₹ 18,000; III – ₹ 16,000; IV – ₹ 10,000 (Loss) and V – ₹ 16,000. The firm closes its books on 31st March, every year.

Pass the necessary Journal entry to record Charu’s share of profit up to the date of retirement.

Solution:-

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

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
48Question – 48
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