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 Aparna, Manisha and Sonia are partners sharing profits in the ratio of 3 : 2 : 1. Manisha retired and goodwill of the firm is valued at ₹ 1,80,000. Aparna and Sonia decided to share future profits in the ratio of 3 : 2. Pass necessary Journal entries. 1.64K viewsAnurag Pathak Changed status to publish June 15, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans P, Q, R and S were partners in a firm sharing profits in the ratio of 5 : 3 : 1 : 1. On 1st January, 2023, S retired from the firm. On S’s retirement, goodwill of the firm was valued at ₹ 4,20,000. New Profit sharing ratio among P, Q and R will be 4 : 3 : 3. Showing your working notes clearly, pass necessary Journal entry for the treatment of goodwill in the books of the firm on S’s retirement. 3.31K viewsAnurag Pathak Changed status to publish June 15, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Sunil, Shahid and David are partners sharing profits and losses in the ratio of 4 : 3 : 2. Shahid retires and the goodwill is valued at ₹ 72,000. Calculate Shahid’s share of goodwill and pass the Journal entry for Goodwill. Sunit and David decided to share future profits and losses in the ratio of 5 : 3. 2.78K viewsAnurag Pathak Changed status to publish June 15, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans P, Q and R are partners sharing profits in the ratio of 7 : 5 : 3. P retires and it is decided that profit sharing ratio between Q and R will be same as existing between P and Q. Calculate New Profit sharing ratio and Gaining Ratio. 1.86K viewsAnurag Pathak Changed status to publish June 15, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Murli, Naveen, and Omprakash are partners sharing profits in the ratio of 3/8, 1/2 and 1/8. Murli retires and surrenders 2/3rd of his share in favor of Naveen and the remaining share in favour of Omprakash. Calculate the new profit sharing ratio and gaining ratio of the remaining partners. 1.90K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans A, B and C are partners sharing profits in the ratio of 5 : 3 : 2. C retires and his share is taken by A. Calculate new profit sharing ratio of A and B. 1.58K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans A, B and C were partners in a firm sharing profits in the ratio of 8 : 4 : 3. B retires and his share is taken up equally by A and C. Find the new profit sharing ratio. 1.55K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Kumar, Lakshya, Manoj and Naresh are partners sharing profits in the ratio of 3 : 2 : 1 : 4. kumar retires and his share is taken by Lakshya and Manoj in the ratio of 3 : 2. Calculate new profit sharing ratio and gaining ratio of the remaining partners. 1.85K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans W, X, Y and Z are partners sharing profits and losses in the ratio of 1/3, 1/6, 1/3 and 1/6 respectively. Y retires and W, X and Z decide to share the profits and losses equally in future. Calculate gaining ratio. 2.37K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Sarthak, Vansh and Mansi were partners sharing profits in the ratio of 4 : 3 : 2. Sarthak retires, Vansh and Mansi will share future profits in the ratio of 2 : 1. Determine the gaining ratio. 2.71K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans X, Y and Z are partners sharing profits in the ratio of 1/2, 3/10, and 1/5. Calculate the gaining ratio of remaining partners when Y retires from the firm. 1.71K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans R, S and M are partners sharing profits in the ratio of 2/5, 2/5, and 1/5. M decides to retire from the business and his share is taken by R and S in the ratio of 1 : 2. Calculate the new profit-sharing ratio. 1.90K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans From the following particulars, calculate new profit sharing ratio of the partners: a) Shiv, Mohan and Hari were partners in a firm sharing profits in the ratio of 5 : 5 : 4. Mohan retired and his share was divided equally between Shiv and Hari. b) P, Q and R were partners sharing profits in the ratio of 5 : 4 : 1. P retires from the firm. 2.72K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Gita, Radha, and Garv were partners sharing profits in the ratio of 1/2, 2/5, and 1/10. Find the new ratio of the remaining partners if Garv retires. 2.50K viewsAnurag Pathak Changed status to publish June 14, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner « Previous 1 2 3 4 Question and answer is powered by anspress.net