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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Lal, Bal and Pal are partners sharing profits in the ratio of 5 : 3 : 7. Lal retired from the firm. Bal and Pal decided to share future profits in the ratio of 2 : 3. The adjusted Capital Accounts of Bal and Pal showed balances of ₹49,500 and ₹1,05,750 respectively. The total amount payable to Lal is ₹1,35,750. This amount is to be paid by Bal and Pal in such a manner that their capitals become proportionate to their new profit-sharing ratio. Calculate the amount to be brought in or paid to the partners.
New combined capital of Bal and Pal = 49,500 + 1,05,750 + 1,35,750 = ₹2,91,000 (the amount payable to Lal is to be raised by Bal and Pal and therefore added to the base for fixing their new capitals). New ratio (Bal : Pal) = 2 : 3.
ASCERTAINMENT OF CASH TO BE BROUGHT IN
| Particulars | Bal (₹) | Particulars | Pal (₹) |
|---|---|---|---|
| New Capital (2,91,000 × 2/5) | 1,16,400 | New Capital (2,91,000 × 3/5) | 1,74,600 |
| Less: Existing Capital | 49,500 | Less: Existing Capital | 1,05,750 |
| Cash to be brought in | 66,900 | Cash to be brought in | 68,850 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "T.S. Grewal Class 12 Chapter 5 Q.50 - Retirement of a Partner", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 5 - Retirement of a Partner.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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