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प्रश्न
State whether the following statement is true or false with reason.
Retiring partner is called an outgoing partner.
विकल्प
True
False
उत्तर
Retiring partner is called an outgoing partner. - True
Explanation:
When a person retires from the firm due to health issues, financial issues, or personal reasons then it is known as a person retires from the business, and for the business, he is an outgoing partner.
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संबंधित प्रश्न
Select the most appropriate answer from the alternatives given below:
Gaining ratio is the ratio in which ______.
Write the Word/Term/Phrase which can substitute of the following statement:
The ratio in which the continuing partners are benefited due to the retirement of partner.
State whether the following statement is true or false with reason.
Gain ratio means New ratio minus Old ratio.
New Ratio (less) _________ = Gain ratio
A proportion in which the continuing partners get the share of retiring partner is known as ________ ratio.
What is Benefit Ratio?
What is New Ratio?
A, B and C are sharing profits and losses in the ratio of 1/2, 3/10, and 1/5 respectively. Find the new ratio of the remaining partners if A retires ______.
Given below is the Balance sheet of Amar, Akbar and Anthony who were sharing profits and losses equally:
| Balance Sheet as on 31st March, 2020 | ||||
| Liabilities | Amount ₹ | Assets | Amount ₹ | |
| Creditors | 31,000 | Cash | 39,000 | |
| General Reserve | 24,000 | Debtors | 32,000 | |
| Capital Accounts: | Less: R.D.D | 4,000 | 28,000 | |
| Amar | 57,400 | Furniture | 30,000 | |
| Akbar | 63,600 | Machinery | 80,000 | |
| Anthony | 60,000 | Motor Car | 50,000 | |
| Profit and Loss A/c | 9,000 | |||
| 2,36,000 | 2,36,000 | |||
Amar retired on 1st April, 2020 from the firm on the following terms:
- Furniture to be valued at ₹ 28,000, Machinery ₹ 76,000 and Motor car ₹ 47,600.
- R.D.D. to be maintained at 5% on debtors.
- Goodwill of the firm is to be valued at ₹ 30,000. However, only Amar’s share is to be raised in the books.
- A part payment of ₹ 20,000 to be made to Amar and the balance to be transferred to his Loan Account.
Prepare:
- Profit and Loss Adjustment A/c.
- Partners’ Capital Account.
- Balance Sheet of the New firm.
New Ratio (less) ______ = Gain ratio.
New Ratio (less) ____ = Gain ratio
New Ratio (less) ______ = Gain ratio
New Ratio (less) ______ = Gain ratio.
On retirement of a partner, partnership deed is ______ changed.
Find the odd one:
New Ratio (less) ______ = Gain ratio.
New Ratio (less) ______ = Gain ratio
New Ratio (less) ______ = Gain ratio.
New ratio (less) ______ = Gain ratio
New Ratio (less) _____ = Gain ratio
New Ratio (less) ______ = Gain ratio
New Ratio (less) _________ = Gain ratio
New Ratio (less) ______ = Gain ratio.
