Retirement And Death Of A Partner CBSE Questions & Answers

R, Y and S were partners sharing profits in the ratio of 1:2:3 their capital Rs.23000, Rs.30000 and Rs.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

A, B and C are the partners sharing profits in the ratio of their capital which were Rs.75000, Rs. 50000 and Rs. 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 Rs.30000. By what amount C’s account should debited the entry for the treatment of goodwill on C’s retirement

A, B and C are the partners sharing profits in the ratio of their capital which were Rs.75000, Rs.50000 and Rs.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 Rs.30000. Entry for treatment of goodwill

R, Y and S were partners sharing profits in the ratio of 1:2:3 their capital Rs.23000, Rs.30000 and Rs.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

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 Rs.24000 for the year 2011-2012. How much share in profits for the death period will be credited to T’s account

A, B and C share profit in the ratio of \(\frac{1}{2}\): \(\frac{3}{{10}}\): \(\frac{1}{5}\). C dies Find out new profit sharing ratio between A and B

A, B and C share profit in the ratio of \(\frac{5}{{12}}\): \(\frac{1}{3}\): \(\frac{1}{4}\). A dies Find out new profit sharing ratio between Band C.

A, B and C share profit in the ratio of \(\frac{5}{{12}}\): \(\frac{1}{3}\): \(\frac{1}{4}\). A dies Find out new profit sharing ratio between Band C. Find out gaining ratio of B and C

X, Y and Z are partners in a firm sharing profits and losses in the ratio of 2:1:1, Y retires on 31st March, 2011. On that date, there was a balance of Rs.24,000 in general reserve and Rs.16,000 in profit and loss A/c of the firm. Journal entries will be

P, Q and Rare partner's sharing profits and losses in the ration of 3:2:1. P retires and on that date there was workmen's compensation fund amount Rs.30,000 in the Balance Sheet. But actual liability on this account was for Rs.12,000 only on that date. Give Journal Entry.

P, Q and Rare partner's sharing profits and losses in the ration of 3:2:1. P retires and on that date there was workmen's compensation fund amount Rs.30,000 in the Balance Sheet. But actual liability on this account was for Rs.12,000 only on that amount with which P’s account is credited

A, B and C are partners in a firm sharing profits and losses in the ratio of 3:2:1, B dies and on that there was a JLP for Rs.60, 000 for which annual premium of Rs.6, 000 was paid out of profits. Surrender value of the policy on the date of death was Rs.12, 000. Amount to be credited to B’s Capital account

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 amount for with which Q’s account should be credited while passing journal entry for treatment of goodwill

A, B and C are partners sharing profits in the ratio of 3:2:1. A dies on 31st July 2012. The profits of the firm for the year ending 31st March 2012 were Rs.42000. Calculate A’s share for the period from 1st April to 31st July 2012 on the basis of last Year’s profits. A’s profit will be

A, B, C and are partners sharing profit in the ratio of 1/3, 1/6, 1/3 and 1/6. C retires and A,B and C decide to share profit and losses equally in future. Calculate the gaining ratio