Arrange the steps in order at the time of retirement of a partner.

A. Transfer of retired partner share of profit.

B. Calculation of goodwill.

C. Settlement of retiring partner capital.

D. Revaluation of assets & liabilities

Choose the correct answer from the options given below:

In case there is no information regarding the acquisition of a share in profit of the retiring/deceased partner by the remaining partners, the assumption is that they will acquire his/her share in the:

From the above information, calculate share of Deepali's sacrifice or gain :

A, B and C are partners in a firm sharing profits in the ratio of 3:2:1. Firm is maintaining fixed capital accounts. B retired and the value of goodwill of the firm is valued at Rs. 1,80,000.

The journal entry for adjustment of goodwill will be :

In the absence of any information regarding the acquisition of a share in profit of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share:

Rakesh (an existing partner) has been retired from partnership firm and the amount payable to him after all adjustments, works out to be Rs. 1,80,000 but the remaining partners Param and Qaireshi, agreed to pay him Rs. 2,25,000 in full settlement of his claim. What does this extra ₹45,000 paid to Rakesh represent?

A, B and C are partners sharing profits in the ratio of 3:2:1. A retires and his share is taken up by B and C in the ratio of 3:2. Calculate the new profit sharing ratio.