Q. 26 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 26 of the Retirement of Partner Chapter of TS Grewal Book 2021-22 Edition for the 2021-22 session?

Question number 26 of the Retirement of Partner chapter is a practical one.

Solution of Question Number 26 of Retirement of Partner Chapter of TS Grewal Book 2021-22 Class 12

Question – 26

X, Y, and Z are partners in firm sharing profits and losses in the ratio of 3:2:1. Z retired from the firm on 1st April 2020. On the date of Z’s retirement, the following balances existed in the books of the firm.:

General Reserve ₹ 1,80,000

Profit and Loss Account (Dr) ₹ 30,000

Workmen Compensation Reserve ₹ 24,000 which was no more required

Employee’s Provident Fund ₹ 20,000

Pass necessary Journal entries for the adjustment of these items on Z’s retirement.

Solution:-

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