CUET Accountancy: PartnershipRetirement/Death. Free, no login required.

Rani, Sandhya and Kangana are partners sharing profits in the ratio of 4:3:2 Rani retires. Sandhya and Kangana decided to share profits in future in the ratio of 5:3. Gaining ratio of Sandhya and Kangana will be

A, B and C are partner's sharing profits and losses in the ratio of $\frac{3}{8} : \frac{1}{2} : \frac{1}{8}$.

If A dies, then the new ratio of B and C will be :

Which of the following statement is true ?

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

If X share of profit was to be calculated on the basis of Average Profit of the last three years, which were Rs. 1,36,000 for 2018-19, Rs. 1,54,000 for 2019-20 and Rs. 1,00,000 for 2020-21. X share of profit for the period from April 01, 2020 to June 30, 2020 shall be calculated on the basis of Average Profit. The profit sharing ration is 4 : 5 : 1 between X, Y and Z.

His share of profit will be:

What will be the share of deceased partner, whose ratio was $\frac{1}{4}$, if the turnover in year of death till the date of death was Rs. 8,00,000 and in previous year was Rs. 20,00,000? Profit in previous year was Rs. 4,00,000

X, Y and Z are partners in the ratio of $\frac{1}{2}:\frac{2}{5}:\frac{1}{10}$. What will be the new ratio of the remaining partner if X retires?

In case of retirement or death of a partner, all accumulated profit and losses are transferred in capital account of partners in the:

A, B and C were partners sharing profits and losses in the ratio of 3 : 2 : 1. C died on 1st August, 2022 and his share of profit from the begining of the accounting year upto the date of death amounted to Rs. 70,000. C's share of profit will be debited to :

At the time of retirement of a Partner if retiring Partner's whole amount is treated as loan, then the total amount is Debited in :

Monu, Sonu and Golu are partners in a firm sharing profits in the ratio of 2 : 2 : 1. Golu died on 5th November 2021. Under the partnership deed, the executors of the deceased partner are entitled to his share of profit to the date of death, calculated on the basis of last year's profit. Profit for the year ended 31st March 2022 was Rs. 3,00,000. Golu's share of profit will be :

On the death of a partner, his share in the loss of the firm till the date of his death is transfered to :

Amit, Dinesh and Gagan are partners sharing profits in the ratio of 5:3:2 Dinesh retires, Amit and Gagan decide to share the profits of the new firm in the ratio of 3:2. The Gaining ratio between Amit and Gagan will be:-

A, B and C are partners with profit sharing ratio of 2:1 respectively. C died on 1 oct 2021. Journal entry to be passed to give C his share of profit immediately will be:-

Anand, Bahadur and Chander are partners, sharing profit equally. On Chander's retirement, his share is acquired by Anand only. Gaining percentage of Anand will be.

Ram, Mohan and Roy are Partner in the ratio of 8:6:4 Ram retires, Mohan and Roy decided to share profits in the ratio of 10:6. Calculate gaining ratio.

A, B and C are partners in a firm sharing profits in the ratio 7:4:4. B retires and on the day of his retirement Goodwill existed in the books at 30,000. B's Capital A/c will be debited by

A, B and C are partners sharing profits in the ratio of 2:3:1. B retries, then new profit sharing ratio between A and C will be