Partnership

Retirement/Death

Easy

common

Which of the following deduction may be made from the sum due to the retiring partner?

Credit balance of his current account

His share of goodwill

Debit balance of his current account

His share in the gain of revaluation of assets and liabilities

✅ Correct Option: 3

Amounts owed by the partner to the firm are deducted from his dues. A debit balance of his current account represents such an amount. A credit current balance, his share of goodwill and his share of revaluation gain are all added to his dues.

2026: 29 May Shift 2

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

2025: 22 May Shift 2

The major difference between Retirement and Death is

2023: 29 May Shift 2

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?

2023: 11 June Shift 3

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

2025: 3 June Shift 1

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:

2023: 11 June Shift 3

From the information provided in the case study, calculate Sonam's sacrifice or gain :

Which of the following deduction may be made from the sum due to the retiring partner?

Solution

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