CameraIcon

SearchIcon

MyQuestionIcon

2

You visited us 2 times! Enjoying our articles? Unlock Full Access!

Cash Settlement with Retiring Partner

We transfer r...

Question

We transfer revaluation profit to partner's capital in which ratio in case of retirement of a partner?

A

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Nethier A nor B

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

withdrawn

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

brought in

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
withdrawn

We transfer revaluation profit to partner's capital in old profit sharing ratio in case of retirement of a partner

Suggest Corrections

thumbs-up

0

Similar questions

Q. Consider the following statements :
1. At the time of admission of new partner undistributed profit or losses are distributed to all partners in new ratio.
2. Profit or loss on revaluation of assets and liabilities is transferred to old partner's capital account in old profit sharing ratio.
3. Goods brought in by incoming partner in cash for joining in a partnership firm is taken away by the old partner's in their new profit-sharing ratio.
Which of the above statement/s is/are true ?

The revaluation profit/ loss is transferred to the capital accounts of all partners in ______.

Q. At the time of retirement of a partner, profit on revaluation of assets will be credited to the Capital Accounts of _____________.

Q. On retirement of a partner, the existing balance of general reserve and accumulated profit is transferred to all the partners capital a/c in the ____________.

Q. Profit and loss on revaluation of assets is transferred to partner's capital account in which ratio?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Settling with the Retiring Partner

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Cash Settlement with Retiring Partner

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon