Sameer, Yasmin and Saloni were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 3. On 31.3.2016, their Balance Sheet was as follows:
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Anita, Gaurav and Sonu were partners in a firm sharing profits and losses in proportion to their capitals. Their Balance Sheet as at 31st March, 2019 was as follows:
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Manoj, Naveen and Deepak were partners sharing profits and losses in the ratio of 4 : 3 : 2. As at 1st April 2022, their Balance Sheet was as follows:
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P, Q and R were partners in a firm sharing profits in the ratio of 2 : 3 : 5. On 31-3-2024 their Balance Sheet was as follows:
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X, Y and Z are partners in a firm sharing profits and losses equally. The balance Sheet of the firm as at 31st March, 2023 stood as follows:
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A, B and C are partners sharing profits in the ratio of 5 : 3 : 2. C retires and A and B agree to share future profits in the ratio of 6 : 4
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A, B and C are partners sharing profits in the ratio of 3 : 2 : 1. C retires and new profit sharing ratio is agreed at 3 : 1
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A, B and C are partners sharing profits and losses in the ratio of 2 : 2 : 1. A retries and the new ratio between B and C is agreed at 3 : 2. Give journal entries on A’s retirement in the following case:
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A, B, C and D are partners sharing profits in the ratio of 4 : 3 : 2 : 2. C retires and the remaining partners decided to share future profits in 5 : 3 : 2
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A, B, C and D are partners sharing profits in the ratio of 1 : 2 : 3 : 4. D retires and his share in taken up by A and B equally. Goodwill was valued at 3 year’s purchase of average profits which were ₹ 20,000
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