A, B, and C are partners with equal profit sharing ratio. Their fixed capitals are Rs. 30,000, Rs. 25,000 and Rs. 30,000 respectively. C decided to take retirement. A and B decided to continue the partnership firm and change their profit sharing ratio into Capital Ratio. What is the gaining Ratio of A and B?

Shweta, Shreya and Shaniya were partners sharing profits in the ratio of 3 : 2 : 1. Shaniya retired from the firm and her capital, after making adjustments for reserves and gain of revaluation amounted to Rs. 4,50,000. Shaniya took 25% of the furniture, accepted bill of exchange for Rs. 52,000. Finally Rs. 2,75,000 was transferred to her loan account. The total value of furniture was :

In case of retirement, the profit and loss suspense account is closed by transferring the amount to the _________.

Which of the following statement is true ?

Murli, Naveen and Omprakesh are partners sharing profits in the ratio of 3 /8 , 1/2 and 1/8 . Murli retires and surrenders 2/3rd of his share in favour of Naveen and the remaining share in favour of Omprakesh. The gaining ratio of the remaining partners is-

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

Identify the correct sequence to be followed at the time of Retirement of a Partner :

(A) New Balance Sheet after Retirement

(B) Transferring balance to Retiring partner's Loan Account

(C) Calculation Gaining/Sacrificing Ratio

(D) Partners' Capital Account

(E) Preparation of Revaluation Account

Choose the correct answer from the options given below :