Category Retirement of Partner Retirement of Partner 73 Questions 1 Sub CategoriesAssertion Reason (Retirment)(8) Ask question Search Order By: ActiveClear Filter 0 Votes 1 Ans The Partnership Deed of Aman, Bharat and Chetan has a clause that any partner may retire from the firm on the following terms by giving six months’ notice in writing. The retiring partner shall be paid 2.61K viewsAnurag Pathak Changed status to publish 3 days ago[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans X, Y and Z are partners sharing profits and losses in the ratio of 3 : 2 : 1. Balance Sheet of the firm as at 31st March, 2022 was as follows: 3.64K viewsAnurag Pathak Changed status to publish March 20, 2024[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Sangeeta, Saroj and Shanti are partners sharing profits and losses in the ratio of 5 : 3 : 2. Shanti retired and on the date of her retirement 2.32K viewsAnurag Pathak Changed status to publish March 19, 2024[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Suraj, Pawan and Kamal are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2023 is: 4.14K viewsAnurag Pathak Posted new comment March 17, 2024[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Following is the Balance sheet of Kusum, Sneh and Usha as on 31st March, 2023, who have agreed to share profits and losses in proportion of their capitals: 3.55K viewsAnurag Pathak Posted new comment March 17, 2024[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Lal, Bal and Pal are partners sharing profits in the ratio of 5 : 3 : 7. Lal retired from the firm. Bal and Pal decided to share future profits in the ratio of 2 : 3 3.01K viewsAnurag Pathak Changed status to publish November 12, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Ram, Manohar and Joshi were partners in a firm. Manohar retired and his claim including his capital and share of goodwill was ₹ 1,80,000 2.40K viewsAnurag Pathak Changed status to publish September 6, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Partnership Deed of C and D, who are equal partners, has a clause that any partner may retire from the firm on the following terms by giving a six month notice in writing: 2.21K viewsAnurag Pathak Changed status to publish August 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Lisa, Monika and Nisha were partners in a firm sharing profits & Losses in the ratio of 5 : 3 : 2. On 31st March 2023, their Balance Sheet was as follows: 1.69K viewsAnurag Pathak Changed status to publish July 11, 2023Accountancy Class 12thRetirement of Partner 0 Votes 1 Ans Aditi, Bhavya and Cris are partners in a firm sharing profits in the ratio of 3 : 2 : 1. Bhavya retires from the firm on 31st March 2023. For the purpose of Bhavya’s retirement, goodwill of the firm has been valued at ₹ 10,800. Aditi and Cris decide to share future profits equally. 1.07K viewsAnurag Pathak Changed status to publish July 11, 2023Accountancy Class 12thRetirement of Partner 0 Votes 1 Ans X, Y and Z are partners in a firm sharing profits in the ratio of 2 : 2 : 1 respectively. Y retires and X and Z decide to share future profit & Losses in the ratio of 3 : 5. 1.22K viewsAnurag Pathak Changed status to publish July 11, 2023Accountancy Class 12thMCQs (Retirement)Retirement of Partner 0 Votes 1 Ans Amar, Akash and Arvind are partners. on the retirement of Akash, Workmen Compensation Reserve has a balance of ₹ 1,50,000. There is a claim of ₹ 37,500 against it. How much amount will be transferred to Akash’s Capital in respect of Workmen Compensation Reserve? a) Nil 852 viewsAnurag Pathak Changed status to publish July 3, 2023Accountancy Class 12thMCQs (Retirement)Retirement of Partner 0 Votes 1 Ans The retirement of a partner is a situation for the continuing partners which is known as 586 viewsAnurag Pathak Changed status to publish July 3, 2023Accountancy Class 12thMCQs (Retirement)Retirement of Partner 0 Votes 1 Ans Assertion (A): At the time of retirement of a partner, the remaining partners may decide to adjust their capital in their new profit sharing ratio. 921 viewsAnurag Pathak Changed status to publish July 3, 2023Accountancy Class 12thMCQs (Retirement)Retirement of Partner 0 Votes 1 Ans At the time of retirement of a partner, if there is undistributed profit in the Balance Sheet of the firm, it 619 viewsAnurag Pathak Changed status to publish July 3, 2023Accountancy Class 12thMCQs (Retirement)Retirement of Partner 0 Votes 1 Ans Assertion (A): At the time of retirement of a partner, if the retiring partner is paid more amount than due to him, the difference amount is goodwill paid based on valuation. 927 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thAssertion Reason (Retirment)Retirement of Partner 0 Votes 1 Ans Assertion (A): Amount due to the retiring partner is always transferred to his loan account. 845 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thAssertion Reason (Retirment)Retirement of Partner 0 Votes 1 Ans Assertion (A): At the time of retirement of a partner, assets are revalued and liabilities are reassessed to ensure that the retiring partner is neither at an advantage nor at loss due to change in values of assets and liabilities. 798 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thAssertion Reason (Retirment)Retirement of Partner 0 Votes 1 Ans Assertion (A): At the time of retirement of a partner, the combined profit share of the remaining or continuing partners increases. 1.00K viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thAssertion Reason (Retirment)Retirement of Partner 0 Votes 1 Ans Assertion (A): At the time of retirement of a partner, besides the Retiring partner, if a continuing partner also sacrifices his profit share, he along with the retiring partner will get share in firm’s goodwill equal to the profit share sacrificed. 651 viewsAnurag Pathak Changed status to publish July 2, 2023Accountancy Class 12thAssertion Reason (Retirment)Retirement of Partner 1 2 3 4 Next » Question and answer is powered by anspress.net
