In case of retirement of a partner from a firm, any lump sum amount paid to a retiring partner in excess of what is due to him, shall be treated as his share of __________.

" A creditor of Rs. 100 is not likely to claim his money and is to be written off (creditors of 99,000 were appearing in the balance sheet) at the time of death of a partner"

Journal entry for this would be :

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

The Deceased Partner's Capital Account includes the following amount/balances:

Naveen, Suresh and Tarun are partners, sharing profits and losses in the ratio of 5:3:2. Suresh retires from the firm and his share was acquired by Naveen and Tarun in the ratio of 2:1. Calculate the new share of profit :

A, B, C are equal partners in a firm. C retired at the end of the year. Which of the following will not be receiving by the retiring partner?

The Balance Sheet of Mohit, Neeraj and Sohan who are partners in a firm sharing profits according to their capitals shows the capital balance of Rs. 80,000, Rs 40,000 and Rs. 40,000 respectively as on March 31, 2025. On this date, Neeraj decided to retire from the firm and was paid for his share in the firm and it was decided that the new capital of the firm would be fixed at Rs. 1,20,000. The capital account of Mohit and Sohan after all the necessary adjustments showed the credit balance of Rs. 82,000 and Rs. 41,000 respectively. How much capital Sohan needs to bring in or withdraw so as to keep the capital balance as per the requirement of the newly constituted firm ?