Retirement or D...

Gaining ratio is calculated at the time of:

When new profit sharing ratio of the continuing partners differ from their old ratio, in such a case outgoing partner’s share of profits will be adjusted through ___________________

There are some adjustments are to be done at the time of retiring partner

a.New profit sharing ratio of continuing partners

b.Accounting treatment of goodwill

c.Preparation of Executor’s Account

d.Adjustment of Reserves and Profits

Which of the above adjustments are to be done

P, Q and R are partners in a firm sharing profit in the ratio of 4:3:2. Q retires and Goodwill has been valued at Rs.18000. What should be journal entry for treatment of goodwill?

Loan of the retiring partner is disposed off according to the pre decided terms and conditions among the partners. In such cases interest is credited to the Loan A/c on the basis of the amount outstanding at the beginning of each year and the amount paid is ____to loan A/c.

Partnership comes to an end immediately whenever a partner dies although the firm may continue with the remaining partners by purchasing or acquiring the share of ____ partner.

A retired partner is not liable for the debts incurred by the firm ________ retirement

Retiring partner’s share of goodwill is calculated as follows:

R, Y and S were partners sharing profits in the ratio of 1:2:3 their capital ` 23000, ` 30000 and ` 17000 respectively. Y retired .Capital has to be fully paid in cash and whole amount is brought in cash by R and S to make their capital thereafter equal. Calculate amount brought by S

In what situation we make the following journal entry?
Old Partners Capital A/c Dr.
To Goodwill A/c

A partner may wish withdrawn from a firm for various reasons like old age, on health ground, misunderstanding with other partners. Such a situation is called:

When a Partner dies, amount due to him will be paid to:

A retiring partner has the right of getting back his share in the firm’s property , so there are some problems mainly

Name the ratio in which continuing partner will share future profits after retiring partner.

The outgoing partner’s share in the profits may be adjusted through

R, Y and S were partners sharing profits in the ratio of 1:2:3 their capital ₹23000, ₹30000 and ₹17000 respectively. Y retired .Capital has to be fully paid in cash and whole amount is brought in cash by R and S to make their capital thereafter equal. Calculate amount brought by R

R, S and T are partners sharing profit in the ratio of 7:5:4. T died on 30th June 2012.Profit for the year was ₹24000 for the year 2011-2012. How much share in profits for the death period will be credited to T’s account

When balance is paid in installment to the executor and rate of interest is not given:

A , B and C are the partners sharing profits in the ratio of their capital which were ₹75000, ₹50000 and ₹25000 respectively. C retired and new profit sharing ratio between A and B was 1:2. On C’s retirement the goodwill of the firm was valued at ₹30000. What amount of goodwill will be debited to B’s Account?

Deceased partner share of profit can be calculated on the basis of