TS Grewal Solutions for Class 12 Accountancy – Retirement/Death of a Partner (Volume I) Question 1. A, B and C were partners sharing profits in the ratio of 1/2, 2/5 and 1/10. Find the new ratio of the remaining partners if C retires. Solution: Question 2. Ram, Mohan and Sohan were partners sharing profits in…
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TS Grewal Solutions for Class 12 Accountancy – Admission of a Partner (Volume I) Question 1. X, Y and Z are partners sharing profits and losses in the ratio of 5:3:2. They admit A into partnership and give him 1/5th share of profits. Find the new profit-sharing ratio. Solution: Question 2. Ravi and Mukesh are…
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TS Grewal Solutions for Class 12 Accountancy – Change in Profit-Sharing Ratio Among the Existing Partners (Volume I) Question 1. A and B are sharing profits and losses equally. With effect from 1st April, 2016, they agree to share profits in the ratio of 4:3. Calculate individual partner’s gain or sacrifice due to change in…
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TS Grewal Solutions for Class 12 Accountancy – Goodwill: Nature and Valuation (Volume I) Question 1. Goodwill is to be valued at three years’ purchase of four years’ average profit. Profits for last four (ending on 31st March of the firm were: 2013 – Rs.12,000; 2014 – Rs.18,000; 2015 – Rs.16,000; 2016- Rs.14,000. Calculate amount…
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TS Grewal Solutions for Class 12 Accountancy – Accounting for Partnership Firms- Fundamentals (Volume I) Question 1. In the absence of Partnership Deed, what are the rules relating to: a. Salaries of partners, b. Interest on partner’s capitals, c. Interest on partner’s loan, d. Division of profit, and e. Interest on partners’ drawings? Solution: Question…
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TS Grewal Solutions for Class 12 Accountancy – Dissolution of Partnership Firm (Volume I) Question 1. What Journal entries would you pass in the following cases? a. Expenses of realisation Rs.1,500. b. Expenses of realisation Rs.600 but paid by Mohan, a partner. c. Mohan, one of the partners of the firm, was asked to…
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NCERT Solutions for Class 12th: Ch 8 Memories of Childhood Vistas English By Zitkala-Sa and Bama Page No: 100 Reading with Insight 1. The two accounts that you read above are based in two distant cultures. What is the commonality of theme found in both of them? Answer The autobiographical accounts included in…
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NCERT Solutions for Class 12th: Ch 7 Evan Tries an O-Level Vistas English By Colin Dexter Page No: 70 Read and Find Out 1. What kind of a person was Evans? Answer Evans was a young, clever prisoner. He had escaped thrice from the prison for which he was known ‘Evans the Break’.…
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NCERT Solutions for Class 12th: Ch 6 On The Face Of It Vistas English By Susan Hill Page No: 56 Read and Find Out 1. Who is Mr. Lamb? How does Derry get into his garden? Answer Mr Lamb is an old man with a tin leg. His real leg was blown off…
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NCERT Solutions for Class 12th: Ch 5 Should Wizard Hit Mommy? Vistas English By John Updike Page No: 48 Read and Find Out 1. Who is Jo? How does she respond to her father’s story telling? Answer Jo is the shortened form of Joanne. She is the four year old daughter of Jack…
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