[ISC] Q. 6 Death of Partner Solution TS Grewal Class 12 (2022-23)

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Are you looking for the solution to Question number 6 of the Death of Partner Chapter of TS Grewal Book ISC Board 2022-23 Edition?

Harpal, Ranjit and Manjit were partners sharing profits and losses in the ratio of 4 : 3 : 1. They close their books of account every year on 31st March. Ranjit died on 30th September, 2022. The firm’s profits for the previous years ended 31st March, were:

YearProfit (₹)
2017-183,50,000
2018-193,00,000
2019-201,10,000
2020-2190,000 (Loss)
2021-221,60,000

Harpal and Manjit decided to share future profits in the ratio of 3 : 2.

Goodwill is to be valued on the basis of 2 year’s purchase of average profit of 4 completed years preceding the year of death of a partner.

Pass Journal entry to reocrd Ranjit’s share of Goodwill.

Solutions:-

Here is the list of Solutions

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1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
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11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
21Question – 21
22Question – 22
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