A, B and C were partners in a firm sharing profits in the ratio of 5:3:2. On March 31, 2025, the balance sheet showed capital balances of Rs. 30,000; Rs. 25,000; and Rs. 15,000 for A, B and C respectively. A died on 1st October 2025. It was agreed between his executors and the remaining partners that interest on capital be provided at 10% p.a. Calculate interest on A's capital.

On the death of a partner, the deceased partner's capital account will not be credited with :-

On retirement, the retiring partner's capital account will be credited with :

(A) His/Her Capital Balance

(B) His/Her share of goodwill

(C) Share of goodwill of remaining partners

(D) his/her share of Reserve

(E) his/her drawings

Choose the correct answer from the options given below :

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

The following is the extract from the balance sheet of the firm with A, B and C as partners as on 31st march 2025.

C retired from the firm and the following are the adjustments related to revaluation :

i. Stock to be valued at 92% of its book value.

ii. Value of building is to be appreciated by 20%.

iii. Creditors of Rs 2,000 are no longer payable.

Choose which of the following statements is true:

A. Stock A/c of Rs 960 is to be shown on the debit side of the revaluation account.

B. Stock A/c of Rs 960 is to be shown on the credit side of the revaluation account.

C. Creditors A/c of Rs 2,000 is to be shown on the credit side of the revaluation account.

D. Creditors A/c of Rs 2,000 is to be shown on the debit side of the revaluation account.

Choose the correct answer from the options given below:

At the time of retirement of a partner, the difference between the Old Profit Sharing Ratio and the New Profit Sharing Ratio is a negative outcome for a remaining partner. It indicates that :-

Hanny, Pammy and Sunny are partners sharing profits in the ratio of 3 : 2 : 1 and Pammy retires. In the absence of any information regarding the acquisition of share in profit of the retiring partner (Pammy) by the remaining partners, it is assumed that they will acquire his/her share in ____________.