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.
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Pass necessary Journal Entries.