Solution 24 of cbse sample paper 2025-26 | Accountancy Class 12 ‪@sethsaccountancytricks‬

Solution 24 of cbse sample paper 2025-26 | Accountancy Class 12 ‎⁨@sethsaccountancytricks⁩  Alok, Deepak and Manish were partners sharing Profit &Loss in the ratio 5:3:2. Deepak retired . on March 31, 2025. On this date his dues after all adjustments related to Revaluation Gain/Loss, Accumulated Profits/Losses and Goodwill treatment came out to be ₹ 6,40,000. He was paid ₹ 40,000 through Furniture on retirement and it was agreed to pay balance in three equal annual instalments together with interest as per the rate permissible by act, in the absence of any agreement. First instalment being paid on March 31, 2026. You are required to pass entry for immediate payment to Deepak on retirement and prepare Deepak’s Loan Account till it is finally closed.