Param, Quasim and Rozi were partners sharing profits in the ratio of their Capital contribution which was Rs. 12,00,000, Rs. 8,00,000 and Rs. 10,00,000 respectively. Their books are closed on 31st March every year. Param dies on 30th September, 2025. Under the partnership deed, deceased partner is entitled to his share of profit/loss from the closing of last balance sheet till the date of death based on the average profits of preceding three years. If profits were 2022 Rs. 1,00,000; 2023 Rs. 1,30,000 (loss); 2024 Rs. 1,95,000 and 2025 Rs. 1,60,000 then Param's share of profit/loss will be :

In the case of a death of a partner in a partnership firm, the share of profit of the deceased partner is calculated on the basis of:

Journal entry to be passed for unrecorded assets for preparing Revaluation A/C at the time of Retirement of a partner will be ____

At the time of death of a partner, if general reserve appears in the balance sheet, it should be credited to:

Using the information given in the case study, calculate Deepali's amount of sacrifice or gain in Goodwill.

A, B, and C were in partnership, sharing profits in the ratio of 3:2:1 respectively, B retires and the new profit sharing ratio between A and C is 3:2 . The gaining ratio is .

The sum due to the retiring partner in case of retirement and to the legal representatives/ executors in case of death includes:

A. His share of goodwill

B. Credit balance of his current account

C. Salary/commission, if any

D. Provision for doubtful debts

Choose the correct answer from the options given below: