Q. 46 DK Goel Retirement of Partner Solutions Class 12 CBSE (2024-25)

Here are the solutions of Question number 46 of Retirement of Partner chapter 5 of DK Goel Class 12 CBSE (2024-25)

X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1. On April 1st 2024, X retires from the firm, Y and Z agree that the capital of the new firm shall be fixed at ₹ 2,10,000 in the profit sharing ratio. The Capital Accounts of Y and Z after all adjustments on the date of retirement showed balances of ₹ 1,45,000 and ₹ 63,000 respectively. State the amount of actual cash to be brought in or to be paid to the partners.

[Ans. Y will withdraw ₹ 5,000 and Z will bring in ₹ 7,000.]

Solution:-