#partnership changes

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Retirement or Death of a Partner

A, B and C are partners sharing profits in the ratio of 2: 2: 1. C retired. The new profit-sharing ratio will be:

1 : 1 correct per NCERT Retirement or Death of a Partner; matches accountancy concept accurately.

Ref: NCERT Accountancy Class XII Chapter 4 Retirement Death of Partner explains goodwill settlement executor loan interest Section 37 provisions accounting.

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Admission of a Partner

The matters that require adjustment at the time of admission of a new partner are:

All of the above correct per NCERT Admission of a Partner; matches accountancy concept accurately.

Ref: NCERT Accountancy Class XII Chapter 3 Admission of Partner explains goodwill valuation sacrificing ratio revaluation reserves adjustment accounting treatment.

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#partnership changes

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A, B and C are partners sharing profits in the ratio of 2: 2: 1. C retired. The new profit-sharing ratio will be:

The matters that require adjustment at the time of admission of a new partner are:

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