Advertisements
Advertisements
प्रश्न
At the time of retirement of a partner, determination of gaining ratio is required ______.
विकल्प
To transfer revaluation profit or loss
To distribute accumulated profits and losses
To adjust goodwill
None of these
उत्तर
At the time of retirement of a partner, determination of gaining ratio is required to adjust goodwill.
APPEARS IN
संबंधित प्रश्न
On the retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners on the basis of ______.
On the retirement of a partner, general reserve will be transferred to the ______.
On revaluation, the increase in liabilities leads to ______.
The final amount due to a retiring partner is not paid immediately, it is transferred to ______.
A, B and C are partners sharing profits in the ratio of 2:2:1. On retirement of B, goodwill of the firm was valued as ₹ 30,000. Find the contribution of A and C to compensate B:
What is meant by the retirement of a partner?
What are the ways in which the final amount due to an outgoing partner can be settled?
Dheena, Surya, and Jankai are partners sharing profits and losses in the ratio of 5:3:2. on 31.3.2018, Dheena retired. On the date of retirement, the books of the firm showed a reserve fund of ₹ 50,000. The pass journal entry to transfer the reserve fund.
Rosi, Rathi and Rani are partners of firm sharing profits and losses equally. Rathi retired from the partnership on 1.1.2018. On that date, their balance sheet showed accumulated loss of ? 45,000 on the asset side of the balance sheet. Give the journal entry to distribute the accumulated loss.
Kannan, Rahim, and John are partners in a firm sharing profits and losses in the ratio of 5:3:2. The balance sheet as of 31st December 2017 was as follows:
Liabilities | ₹ | Assets | ₹ | |
Capital accounts: | Buildings | 90,000 | ||
Kannan | 1,00,000 | 2,20,000 | Machinery | 60,000 |
Rahim | 80,000 | Debtors | 30,000 | |
John | 40,000 | Stock | 20,000 | |
Workmen compensation funds | 30,000 | Cash at bank | 50,000 | |
Creditors | 20,000 | Profit and loss A/c (loss) | 20,000 | |
2,70,000 | 2,70,000 |
John retires on 1st January 2018, subject to the following conditions :
- To appreciate building by 10%
- Stock to be depreciated by 5%
- To provide ₹ 1,000 for bad debts
- An unrecorded liability of ₹ 8,000 has been noticed.
- The retiring partner shall be paid immediately.
Prepare revaluation account, partner’s capital account, and the balance sheet of the firm after retirement.