[ISC] Q. 9 Death of Partner Solution TS Grewal Class 12 (2022-23)

Are you looking for the solution to Question number 9 of the Death of Partner Chapter of TS Grewal Book ISC Board 2022-23 Edition?

Avijit, Bikas and Bharat were partners sharing profits and losses equally. Their Balance Sheet as at 31st March, 2022 is given below:

Liabilities	₹	Assets		₹
Capital A/cs: Avijit Bikas Bharat General Reserve Creditors	50,000 50,000 50,000 15,000 500	Machinery Furniture Bills Receivable Stock Debtors Less: PDD Cash at Bank	45,000 3,000	50,000 28,000 21,000 9,500 42,000 15,000
	1,65,500

Bharat died on 1st April, 2022 and the following agreement was to be put into effect:

(i) Assets were to be revalued: Machinery to ₹ 56,500; Furniture to ₹ 25,000; Stock to ₹ 7,500.

(ii) Goodwill of the firm was to be valued at two year’s pruchase of average profit for the last three years which was ₹ 22,500.

(iii) ₹ 10,000 were to be paid to the executor of the deceased partner on 1st April, 2022.

You are required to prepare:

(a) Revaluation Account, (b) Capital Accounts of the partners, and (c) Balance Sheet of the new firm.

Solution:-

Here is the list of Solutions

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
21	Question – 21
22	Question – 22