Kumar, Lakshya, Manoj and Naresh are partners sharing profits in the ratio of 3 : 2 : 1 : 4. Kumar retires and his share is acquired by Lakshya and Manoj in the ratio of 3:2. The gaining ratio of the remaining partners is .....?

Various accounting aspects involved on death of a partner are as follows:

(A) Adjustment in respect of unrecorded assets and liabilities

(B) Treatment of goodwill

(C) Preparation of Realization A/c

(D) Preparation of Executor's loan A/c

Choose the correct answer from the options given below:

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.

At the time of retirement of a partner, arrange the following accounts in the correct sequence.

(A) Partners' Current A/c

(B) Revaluation A/c

(C) Balance Sheet

(D) Partners' Capital A/c

Choose the correct answer from the options given below:

Steps involved in accounting treatment at the time of death of a partner -

(A) Preparation of deceased partner's capital account

(B) Ascertainment of new profit sharing ratio and gaining ratio

(C) Preparation of revaluation account, if required

(D) Settlement by making payment to deceased partner's executor.

Choose the correct answer from the options given below:

Share of loss of deceased partner, calculated on the basis of previous years profit is

What will be the share of deceased partner, whose ratio was $\frac{1}{4}$, if the turnover in year of death till the date of death was Rs. 8,00,000 and in previous year was Rs. 20,00,000? Profit in previous year was Rs. 4,00,000