Q. 25 solution of Retirement of Partner Chapter TS Grewal Book Class 12 2021-22

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Are you looking for the solution of Question number 25 of the Retirement of Partner Chapter of TS Grewal Book 2021-22 Edition for the 2021-22 session?

Question number 25 of the Retirement of Partner chapter is a practical one.

Solution of Question Number 25 of Retirement of Partner Chapter of TS Grewal Book 2021-22 Class 12

Question – 25

Punit, Ramit, and Akshit were partners sharing profits equally. Akshit retired on 1st April 2021. Punit and Ramit decided to continue the business and share profits in the ratio of 3:2. They also decided to give effect to the change in the value of assets and liabilities without changing their book value.

Land5,50,0008,50,000
Building2,50,0002,10,000
Computers1,00,00070,000
Computers Softwares5,00,0004,00,000
Sundry Creditors70,00060,000
Workmen Compensation Claim5,000

Pass necessary Journal Entries.

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