58
![](https://i0.wp.com/webcomm.in/wp-content/uploads/2022/TS-Grewal-Book/TS-Grewal-Book-Volume-1-solutions-of-Class-12-Accountancy-2022-23-Edition/Retirement-of-a-Partner-edition-2022-23-solutions/58.jpg?w=1320&ssl=1)
Working Notes:
W.N. – 1 (Calculation of Share of Profit)
The profits for the three preceding completed years were: I- ` 45,000, II- ` 30,000 and III- ` 24,000.
Average Profit= 45,000+30,000+24,000/3= 33,000
Share of Chetan’s Profit= 33,000×1×6/3×12=5,500
W.N. – 1 (Calculation of Share of Goodwill)
Average Profit= 45,000+30,000+24,000/3= 33,000
Firm’s Goodwill= 33,000×1.5=49,500
Chetan’s Share of Goodwill=49,500×1/3=16,500
Chetan will be compensated by Amar and Bharat in 1:1
Amar and Bharat = 16,500×1/2=8,250
Discover more from WebComm.in
Subscribe to get the latest posts to your email.
Pingback: T.S. Grewal's Accountancy Solutions 12th Class - WebComm.in