[ISC] Q. 5 Death of Partner Solution TS Grewal Class 12 (2023-24)

Solution to Question number 5 of the Death of Partner Chapter of TS Grewal Book ISC Board 2023-24 Edition?

Charu, Tara and Rakhi were partners in a firm sharing profits in the ratio of 2 : 1 : 2. On 15th May, 2023, Charu died and the new profit-sharing ratio between Tara and Rakhi will be 4 : 11. On Charu’s death, goodwill of the new firm was valued at ₹ 90,000. Calculate gaining ratio and pass the necessary Journal entry for the treatment of goodwill on Charu’s death.

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