Q.No.17 | Chapter 6 – Retirement/Death of a Partner | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1

Old Ratio of Hanny, Pammy and Sunny = 3: 2: 1
Pammy retires from the firm

New Ratio of Hanny and Sunny = 2: 1

Calculation of Gaining Ratio: -

Gaining Ratio = New Ratio - Old Ratio

Hanny’s gaining Share	=	2	-	3
		3		6
	=	4	-	3
		6
	=	1
		6

 

Sunny’s Gaining Share	=	1	-	1
		3		6
	=	2	-	1
		6
	=	1
		6

 

Firm’s Share of Goodwill = 84,000

Pammy's Share of Goodwill =  Firm’s Goodwill X Pammy's Shares

Pammy's Share of Goodwill	=	84,000	X	2
				6
	=	28,000

Gaining Ratio of Hanny and Sunny = 1:1

Hanny’ gain	=	B's Goodwill	X	Gaining share of Hanny
	=	28,000	X	1
				2
	=	14,000

 

Sunny ’ gain	=	Manisha's Goodwill	X	Gaining share of Sunny
	=	28,000	X	1
				2
	=	14,000

 

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

• Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
• Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
• Chapter No. 3 – Goodwill: Nature and Valuation
• Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
• Chapter No. 5 – Admission of a Partner
• Chapter No. 6 – Retirement/Death of a Partner
• Chapter No. 7 – Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 8 – Company Accounts –  Accounting for Share Capital
• Chapter No. 9 – Company Accounts – Issue of Debentures
• Chapter No. 10 – Redemption of Debentures

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis 
• Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
• Chapter No. 4 – Accounting Ratios
• Chapter No. 5 – Cash Flow Statement

 

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