✓ Board-verified
Accountancy · 2023 · 3 marks
Reconstitution of a Partnership Firm – Retirement/Death of a PartnerTreatment of Goodwill3 marksshort answer
CBSE 2023 · Region 2 · Set 1 · Q19
Vibha, Sud ha and As fish were partners in a firm sharing profits in the ratio 2:3:1. Sud ha retired and the balance in her capital account after…
Vibha, Sud ha and As fish were partners in a firm sharing profits in the ratio $\displaystyle 2$:$\displaystyle 3$:1. Sud ha retired and the balance in her capital account after making necessary adjustments on account of reserves, revaluation of assets and re-assessment of liabilities was ₹ $\displaystyle 85$,000. Vibha and As fish agreed to pay Sud ha ₹ $\displaystyle 1,15,000$ in full settlement of her claim. Record the necessary journal entry for goodwill on Sudha's retirement.
Marking-scheme solution
Books of Vibha, Sudha and Ashish
Journal
L.F Debit Credit
Date Particulars Amount Amount
(₹) (₹)
Vibha’s Capital A/c Dr $\displaystyle 20,000$
Ashish’s Capital A/c. Dr $\displaystyle 10,000$
$\displaystyle 30,000$
To Sudha’s Capital A/c
(Sudha’s share of goodwill adjusted to
capital account of Vibha and Ashish in
their gaining ratio $\displaystyle 2$:$\displaystyle 1$)
All Reconstitution of a Partnership Firm – Retirement/Death of a Partner questions2023 question paperPractice Reconstitution of a Partnership Firm – Retirement/Death of a Partner →
More from Reconstitution of a Partnership Firm – Retirement/Death of a Partner
- Saurabh, Reena and Deepak were partners in a firm sharing profits and losses in the ratio of 5: 3: 2. Saurabh died on 318 December, 2024. As per the…2025
- Kiran, Raveena and Hina were partners in a firm sharing profits and losses in the ratio of 5: 3: 2. The firm closes its books on 31st March every…2026
- Sona, Mona and Raghav were partners in a firm sharing profits and losses in the ratio of 4: 3: 2. Raghav retired. The balance in Ra '. t. ' ts on…2025
- Anchal, Prabhat and Karan were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. On 31st March, 2025, Anchal retired. The…2026
- Vimal, Bose and Ghosh were partners in a firm sharing profits and losses equally. On 1st April, 2024, Bose retired from the firm and the new profit…2025
- Aditi, Sukriti and Niti were partners sharing profits in the ratio of 2: 2 1 1. Sukriti died on 30th June, 2023. Net profit for the year ended 31st…2024
- P, Q and R were partners in a firm sharing profits and losses in the ratio of 2:1:2. Their balance sheet on 31st March, 2022 was as follow: Balance…2023
- Anmol, Badal and Cheenu were partners in a firm sharing profits and losses in the ratio of 5: 4: 3. Badal retired. Anmol and Cheenu decided to share…2024
CBSE Class 12 Accountancy past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.