A, B and C are partners sharing profits in the ratio of 2:3:1. B retries, then new profit sharing ratio between A and C will be

The major difference between Retirement and Death is

On retirement/death of a partner, the remaining partners who have gained due to change in profit sharing ratio should compensate the :

In the event of retirement of partner, following deduction has to be made from his/her share.:

In case, deceased partner's share of profit is calculated during the intervening period, the following Journal Entry will be passed :-

S, B and T share profits and losses in the ratio of 3:2:1. On Jan. 1, 2025. S and B agreed to share profit/losses equally on retirement of T. On this date:

1. Book value of land and building and furniture was Rs. 2,60,000 and Rs. 60,000 respectively and were revalued at Rs. 3,00,000 and Rs. 50,000 respectively;
2. Rs. 4,000 included in creditors was not likely to be paid;
3. Rs. 1,000 required for bad debt reserve.

Calculate the revaluation profit or loss from the above information.

Which of the following deduction may be made from the sum due to the retiring partner?