Partnership-Retirement of partner

In which of the following case the need for the valuation of goodwill in a firm may arise?

(I) Admission of new partner

(II) While sharing profit sharing ratio

(III) Retirement of partner

(IV) death of partner

Retiring or outgoing partner-

A partner may retire-

Outgoing partner is compensated for parting with firm’s future profits in favour of remaining partners. In what ratio do the remaining partners contribute to such compensation amount?

Gaining ratio=……minus…….

The amount due to the retiring partner can be made by –

At the time of retirement of partner reserve appearing in balance sheet is distributed to –

Before a partner retires, reserves created out of profits or balances in profit and loss account must be transferred to the capital accounts of all the partners in –

Claim of the retiring partners is payable in the following form.

Balance in revaluation account is transferred to old partners in-

Joint life policy is taken by the firm on the life(s) of –

Increase in liability at the time of retirement of the partner is –

At the time of retirement of a partner, firm gets ….. from the insurance company against the joint life policy taken jointly for all the partners.

Decrease in liability at the time of retirement of partner is –

Increase in assets at the time of retirement of partner is –

Decrease in assets at the time of retirement of partners is –

A, B & C partners in a firm sharing profits losses in the ratio of 4:3:2. B decided to retire from the firm. calculate the new profit sharing ratio of A & C if B gives his share to A &C in the original ratio of A & C.

A, B & C partners sharing profits losses in the ratio of 4:3:2. B decided to retire from the firm. calculate the new profit sharing ratio of A & C if B gives his share to A &C in equal proportion.

A, B & C partners sharing profits losses in the ratio of 3:2:1. C retires on a decided date and goodwill of the firm is to be valued at Rs 60,000. find the amount payable to retiring partner on account of goodwill.

A, B & C partners sharing profits losses in the ratio of 4:3:2. B decided to retire from the firm. calculate the new profit sharing ratio of A & C if B gives his share to A &C in ratio of 3:1.

A, B & C partners in a firm sharing profits losses in the ratio of 4:3:2. B decided to retire from the firm. calculate the new profit sharing ratio of A & C if B gives his share to A only.

A, B & C partners sharing profits losses in the ratio of 3:2:1. B decided to retire from the firm. partners A & C decided to take his share in 3:1 ratio. what is the new ratio of the partners of A & C?

A, B & C are sharing profits in  4:3:2 ratio. B  retires.if A & C shares profit of B in 5:3, then find new profit sharing ratio

A, B & C are partners sharing profits and losses in the ratio of 3:2:1. B  retire from the firm. What is the gain ratio of the partners  A and  C?

A, B & C partners in a firm sharing profits losses in the ratio of 4:3:2. B decided to retire from the firm.  B gives his share to A only. what is the gain ratio?