Retirement or D...

On death of a partner, the representative of the deceased partner are entitled to share profit from _________.

When a partner retires, his share of profit is __________.

___________ account is opened for revaluation of assets and liabilities at the time of admission of a partner into a firm.

P, Q and R are three partners in a partnership firm X retirement stock, Sunday debtors and provision for bad debts stand in the books of A/c at Rs. 50,000,Rs.45000 and Rs.4500 respectively. The partners decided to revalue assets as under. Stock-in-trade to be reduced to 90%, provision for bad debts to be brought to  15% of Sundry debtors. The entry for revaluation of stock-in-trade will be ________.

Profit or loss on revaluation of assets and liabilities is transferred to __________.

A,B, C and D are four partners in a firm sharing profits and loss in the ratio of 18:15:18:3, D retires from the firm and his share of profit is purchased by the remaining partners A,B and C as 1/54,1/54 and 1/54.
What is the gaining ratio remaining partners?

Profit or loss on revaluation of assets and liabilities is distributed in the __________ ratio.

Decreased in liability at the time of retirement of a partner is _________.

Decrease in assets at the time if retirement of a partner is ________.

Gain Ratio is _______.