Retirement And Death Of A Partner CBSE Questions & Answers

S had personal assets worth Rs.10, 00,000 and liabilities to be paid worth Rs.4, 00,000 (borrowed money from his friend). S dies & his son R decides to give equal share to his sisters and pay off the liability immediately. What values does Ram exhibit by taking this decision?

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.

A, M and B are partners in a firm sharing profit and losse in the ratio of 3:2:2 B has desired to retire from the firm and desires his son should be admitted as partner in his place. The partnership deed is silent A and M agrees to the change and sharing profit and loss in the same ratio. Do you think the change will be as per law and why

L M and N are sharing profits in the ratio of 3:2:2. N retires and his son O is admitted in his place and new profit sharing ratio of L M and O is 3:3:2. Do you think in spite of O’s admission goodwill is to valued

The ______ partners claim is transferred Executer’s to account

A, B and C are partners sharing profit in the ratio of \(\frac{1}{2}\): \(\frac{3}{{10}}\): \(\frac{1}{5}\) .Calculate the new profit sharing ratio between A and C ,If B retires

A, B and C are partners sharing profit in the ratio of \(\frac{1}{2}\): \(\frac{3}{{10}}\): \(\frac{1}{5}\).Calculate Gaining ratio if A retires

A, B and C are partners sharing profit in the ratio of \(\frac{1}{2}\): \(\frac{3}{{10}}\): \(\frac{1}{5}\).C retires and his share is taken up by A and B in the ratio of 3:2. Calculate the new profit sharing ratio between A and B

L, M and N are partners sharing profit and losses in the ratio of 25:15:9. M retires. It is decided that the profit sharing ratio between remaining partner will be the same as existing between M and N.Calculate new profit sharing ratio

L, M and N are partners sharing profit and losses in the ratio of 25:15:9 .M retires. It is decided that the profit sharing ratio between remaining partner will be the same as existing between M and N. Calculate Gaining ratio

M wants to retire. The profit on revaluation on the date was Rs.12000.and other partners N and H want to share this in the new ratio 3:2. M wants this to be shared equally How this profit should be shared

P, Q and R are partners in a firm sharing profit in the ratio of 4:3:2. Goodwill has been valued at Rs.18000. Find Gaining ratio

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

S, R and T are partners in a firm sharing profits in the ratio 3:2:1.Goodwill has been valued at Rs.60000 on R’s retirement S and T decided to share profit and losses equally. What should the amount of R’s share of goodwill

S, R and T are partners in a firm sharing profits in the ratio 3:2:1.Goodwill has been valued at Rs.60000 on R’s retirement S and T decided to share profit and losses equally. What entry should be passed to for treatment of R’s share of goodwill