# Question 15 Chapter 6 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 15 Chapter 6 of +2-A

Question 15 Chapter 6 of +2-A

Aparna, Manisha, and Sonia are partners sharing profits in the ratio of 3: 2: 1. Manisha retired and the goodwill of the firm is valued at 1,80,000. Aparna and Sonia decided to share future profits in the ratio of 3: 2. Pass necessary Journal entries.

## The solution of Question 15 Chapter 6 of +2-A: –

 Date Particulars L.F. Debit Credit Aparna’s Capital A/c Dr 18,000 Sonia’s Capital A/c Dr 42,000 To Manisha’s Capital A/c 60,000 (Being share of Manisha’s goodwill adjusted)

### Working Note: –

Old Ratio of Aparna, Manisha, and Sonia = 3: 2: 1
Manisha retires from the firm

New Ratio of Aparna and Sonia = 3: 2

#### Calculation of Gaining Ratio: –

Gaining Ratio = New Ratio – Old Ratio

 Aparna’s gaining Share = 3 – 3 5 6 = 18 – 15 30 = 3 30
 Sonia’s Gaining Share = 2 – 1 5 6 = 12 – 5 30 = 7 30

Firm’s Share of Goodwill = 1,80,000

Manisha’s Share of Goodwill =  Firm’s Goodwill X Manisha’s Shares

 Manisha’s Share of Goodwill = 1,80,000 X 1 3 = 60,000

Gaining Ratio of Aparna and Sonia = 3:7

 Aparna’ gain = Manisha’s Goodwill X Gaining share of Aparna = 60,000 X 3 10 = 18,000
 Sonia’ gain = Manisha’s Goodwill X Gaining share of Sonia = 60,000 X 7 10 = 42,000

#### 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. 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