Question 1

Q.No.1 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionSunder, Madhu and Ram were partners sharing profits in the ratio of 3 : 2 : 1. Sunder died on 30th June, 2022. His share of profit from the end of last accounting year till the date of death was to be calculated on the basis of the average of three completed years of profits before death. Profits for the financial years ended 31st March, 2020, 2021 and 2022 were ₹ 80,000; ₹ 90,000 and ₹ 76,000 respectively.Calculate Sunder's share of profit till his death and pass necessary Journal entry

Question 2

Q.No.2 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionParul, Rahul and Payal are sharing profits in the ratio of 2 : 2 : 1. Rahul died on 30th June, 2022. Sales for the year ended 31st March, 2022 were ₹ 7,50,000. Sales between the period from 1st April, 2022 to 30th June, 2022 were ₹ 2,50,000. Profit for the year ended 31st March, 2022 was ₹ 75,000.Calculate the deceased partner's share in the profits of the firm till his death.SolutionWorking NotesItemWorkingAmount (₹)1. Profit as a percentage of sales(75,000 ÷ 7,50,000) × 10010%2. Profit

Question 3

Q.No.3 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionManu, Neeraj and Saina were partners sharing profits and losses in the ratio of 3 : 2 : 1. Neeraj died on 30th June, 2022. Profit from 1st April, 2022 to 30th June, 2022 was ₹ 3,60,000. Manu and Saina decided to share future profits in the ratio of 3 : 2 with effect from 1st July, 2022.Pass the necessary Journal entries to record Neeraj's share of profit up to the date of death.SolutionWorking NotesItemWorkingAmount (₹)1. Neeraj's share of profit (2/6)3,60,000 × 2/61,20,0002. Gaining rat

Question 4

Q.No.4 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionRamu, Rahim and Rehman were partners in a firm. Rehman died on 31st May, 2022. His share of profit from the closure of the last accounting year till the date of death was to be calculated on the basis of the average of three completed years of profits before death. Profits for the years ended 31st March, 2020, 2021 and 2022 were ₹ 18,000; ₹ 19,000 and ₹ 17,000 respectively.Calculate Rehman's share of profit till his death and pass necessary Journal entry for the same when:(i) there is no

Question 5

Q.No.5 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionPayal, Nimrat and Amulya were partners sharing profits and losses in the ratio of 4 : 3 : 3. Amulya died on 31st October, 2025. In terms of the Partnership Deed, financial statements were prepared as on the date of death and profit was determined to be ₹ 20,00,000.You are required to pass the Journal entry for distribution of profit.SolutionWorking NotesItemWorkingAmount (₹)Payal's share (4/10)20,00,000 × 4/108,00,000Nimrat's share (3/10)20,00,000 × 3/106,00,000Amulya's share (3/10)20,00

Question 6

Q.No.6 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionSamita, Aruna and Pawani were partners sharing profits and losses in the ratio of 3 : 2 : 1. Aruna died on 30th November, 2025. In terms of the Partnership Deed, financial statements were prepared as on the date of death and loss was determined to be ₹ 30,00,000.You are required to pass the Journal entry for distribution of loss.SolutionWorking NotesItemWorkingAmount (₹)Samita's share of loss (3/6)30,00,000 × 3/615,00,000Aruna's share of loss (2/6)30,00,000 × 2/610,00,000Pawani's share o

Question 7

Q.No.7 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionCharu, Tara and Rakhi were partners in a firm sharing profits in the ratio of 2 : 1 : 2. On 15th May, 2023, Charu died and the new profit-sharing ratio between Tara and Rakhi will be 4 : 11. On Charu's death, goodwill of the new firm was valued at ₹ 90,000.Calculate gaining ratio and pass the necessary Journal entry for the treatment of goodwill on Charu's death.SolutionWorking NotesItemWorkingAmount (₹)1. Gaining ratio — Tara4/15 − 1/5 = 4/15 − 3/15 = 1/15    Gaining ratio — Rakhi11/15

Question 8

Q.No.8 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionHarpal, Ranjit and Manjit were partners sharing profits and losses in the ratio of 4 : 3 : 1. They close their books of account every year on 31st March. Ranjit died on 30th September, 2022. The firm's profits for the previous years ended 31st March, were:YearProfit (₹)2017–183,50,0002018–193,00,0002019–201,10,0002020–2190,000 (Loss)2021–221,60,000Harpal and Manjit decided to share future profits in the ratio of 3 : 2.Goodwill is to be valued on the basis of 2 years' purchase of average

Question 9

Q.No.9 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionPawan, Raman and Sharman were partners sharing profits in the ratio of 4/8, 3/8 and 1/8. It is provided in the Partnership Deed that on the death of any partner, partner's share of the goodwill is to be valued at one-half of the net profit credited to his account during the last four completed financial years.Raman died on 1st April, 2022. Firm's profits and losses for the last 4 financial years were: 2018–19 (Profit ₹ 1,20,000); 2019–20 (Profit ₹ 60,000); 2020–21 (Loss ₹ 20,000) and 202

Question 10

Q.No.10 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionMonu, Vipul and Shreya were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 1. As per the terms of the partnership deed, on the death of any partner, share of goodwill of the deceased partner will be calculated on the basis of 50% of the net profits credited to that partner's Capital Account during the last four completed years before death.Monu died on 1st July, 2026. The profits for the last four years ending 31st March were:Year2023202420252026Profit (₹)97,0001,0

Question 11

Q.No.11 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionCharu, Mayank and Mamta were partners in a firm sharing profits in the ratio of 4 : 3 : 1. The firm closes its books on 31st March every year. On 1st February, 2026, Mayank died and it was agreed that new profit-sharing ratio between Charu and Mamta will be equal. The Partnership Deed provided the following on the death of a partner:(a) His/her share of goodwill is to be calculated on the basis of half of the profits credited to his/her account during the previous four completed years. T

Question 12

Q.No.12 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionJayant, Rajesh and Dev were partners sharing profits in the ratio of 5 : 3 : 2. Rajesh died and on his death goodwill of the firm is valued at ₹ 5,00,000. Following entry is passed for adjustment of goodwill:DateParticularsL.F.Dr. (&#8377;)Cr. (&#8377;)Jayant's Capital A/c Dr.Dev's Capital A/c Dr.   To Rajesh's Capital A/c(Being the share of goodwill of deceased partner credited)90,00060,0001,50,000What is the new profit-sharing ratio of Jayant and Dev?SolutionWorking Note

Question 13

Q.No.13 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionHarish, Paresh and Sara were partners sharing profits in the ratio of 3 : 2 : 1. Sara died and on her death goodwill of the firm is valued at ₹ 12,00,000. Following entry is passed for adjustment of goodwill:DateParticularsL.F.Dr. (&#8377;)Cr. (&#8377;)Harish's Capital A/c Dr.Paresh's Capital A/c Dr.   To Sara's Capital A/c(Being the share of goodwill of deceased partner adjusted)80,0001,20,0002,00,000Amount credited to Sara's Capital Account was ₹ 1,50,000 on account of G

Question 14

Q.No.14 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionRita, Geeta and Ashish were partners sharing profits and losses equally. Their Balance Sheet as at 31st March, 2023 is given below:Balance Sheet of Rita, Geeta and Ashish as at 31st March, 2023Liabilities₹Assets₹Capital A/cs:Machinery50,000Rita50,000Furniture28,000Geeta50,000Bills Receivable21,000Ashish50,0001,50,000Stock9,500General Reserve15,000Debtors45,000Creditors500Less: PDD3,00042,000Cash at Bank15,000Total1,65,500Total1,65,500Ashish died on 1st April, 2023 and the following agree

Question 15

Q.No.15 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionAkhil, Nikhil and Sunil were partners sharing profits and losses equally. Following was their Balance Sheet as at 31st March, 2023:Balance Sheet of Akhil, Nikhil and Sunil as at 31st March, 2023
Liabilities

₹
Assets
₹

Trade Creditors

40,000
Building
2,00,000

General Reserve

45,000
Plant and Machinery
80,000

Capital A/cs:

Stock
35,000

Akhil
1,95,000

Debtors
80,000

Nikhil
1,20,000

Cash at Bank
85,000

Sunil
80,000
3,95,000

Total

4,80,000
Total
4,80,000
Sunil died on 1st Aug

Question 16

Q.No.16 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionSunil, Jobins and Manish were partners in a firm sharing profits in the ratio of 2 : 2 : 1. On 31st March, 2023, their Balance Sheet was as follows:Balance Sheet of Sunil, Jobins and Manish as at 31st March, 2023
Liabilities

₹
Assets
₹

Creditors

1,62,500
Bank
1,90,000

Workmen Compensation Reserve

40,000
Stock
70,000

General Reserve

27,500
Debtors
40,000

Capital A/cs:

Land and Building
5,00,000

Sunil
3,00,000

Profit and Loss A/c (for the year ended 31st March, 2023)
1,60,000

Question 17

Q.No.17 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionBalance Sheet of Sukhi, Mukhi and Dukhi as at 31st March, 2023 was as follows:Balance Sheet of Sukhi, Mukhi and Dukhi as at 31st March, 2023
Liabilities

₹
Assets
₹

Bills Payable

9,100
Cash at Bank
5,800

Employees' Provident Fund

5,000
Bills Receivable
800

Workmen Compensation Reserve

6,000
Stock
9,000

General Reserve

6,000
Sundry Debtors
16,000

Capital A/cs:

Furniture
2,000

Sukhi
22,750

Plant and Machinery
6,500

Mukhi
15,250

Building
30,000

Dukhi
12,000
50,000
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Question 18

Q.No.18 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionJeet, Vijay and Priya are partners in a firm. Their Balance Sheet as at 31st March, 2022 is given below:Balance Sheet of Jeet, Vijay and Priya as at 31st March, 2022
Liabilities
₹
Assets
₹

Creditors
25,000
Machinery
50,000

General Reserve
25,000
Furniture
6,250

Jeet's Capital
50,000
Stock
26,250

Vijay's Capital
37,500
Debtors
37,500

Priya's Capital
12,500
Investments
30,000

Total
1,50,000
Total
1,50,000
Vijay died on 30th September, 2022. The Partnership Deed provides that the repr

Question 19

Q.No.20 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionMunish, Bishan and Chahat were partners sharing profits in the ratio of 3 : 2 : 1. Balance Sheet of the firm is given below as at 31st March, 2023:Balance Sheet of Munish, Bishan and Chahat as at 31st March, 2023
Liabilities

₹
Assets
₹

Bills Payable

2,000
Cash at Bank
5,800

Creditors

5,000
Bills Receivable
800

Reserve

6,000
Stock
9,000

Loans

7,100
Debtors
16,000

Capital A/cs:

Furniture
2,000

Munish
22,750

Plant and Machinery
6,500

Bishan
15,250

Building
30,000

Chahat
12,

Question 20

Q.No.21 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionPratik, Nitish and Avinash are in partnership sharing profits equally. Avinash died on 30th June, 2023. Balance Sheet of the firm as at 31st March, 2023 was as follows:Balance Sheet of Pratik, Nitish and Avinash as at 31st March, 2023Liabilities₹Assets₹Creditors33,250Cash2,500Contingency Reserve9,000Bank10,000Investments Fluctuation Reserve3,000Debtors25,000Capital A/cs:Less: Provision for Doubtful Debts2,00023,000Pratik75,000Stock25,000Nitish50,000Investments (at cost)12,500Avinash50,00

Item	Working	Amount (₹)
1. Average profit of 3 years	(80,000 + 90,000 + 76,000) ÷ 3 = 2,46,000 ÷ 3	82,000
2. Profit from 1st April to 30th June, 2022 (3 months)	82,000 × 3/12	20,500
3. Sunder's share of profit (3/6)	20,500 × 3/6	10,250

T.S. Grewal ISC Class 12 Accountancy Solutions Chapter 5 - Death of a Partner

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Table of Contents

Q.No.1 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Question

Solution

Working Notes

Journal

Q.No.2 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.3 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.4 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.5 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.6 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.7 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.8 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.9 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.10 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.11 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.12 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.13 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.14 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.15 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.16 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

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Q.No.18 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.20 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.21 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.23 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

Q.No.24 | Chapter 5 – Death of a Partner | T.S. Grewal ISC Class 12 Solution

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