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प्रश्न
On the retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners on the basis of ______.
विकल्प
New profit sharing ratio
Old profit sharing ratio
Gaining ratio
Sacrificing ratio
उत्तर
On the retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners on the basis of old profit sharing ratio.
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संबंधित प्रश्न
On the retirement of a partner, general reserve will be transferred to the ______.
On revaluation, the increase in liabilities leads to ______.
At the time of retirement of a partner, determination of gaining ratio is required ______.
The final amount due to a retiring partner is not paid immediately, it is transferred to ______.
‘A’ was a partner in a partnership firm. He died on 31st March 2019. The final amount due to him is ₹ 25,000 which is not paid immediately. It will be 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 is the journal entry to be passed to transfer the amount due to the deceased partner to the executor of the deceased partner?
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.
