Write the various
matters that need adjustments at the time of retirement of
partner/partners.
Write the various matters that need adjustments at the time of retirement of partner/partners.
The following are the
various matters that need to be adjusted at the time of retirement of
partners/partner.
1. Calculation of new
gaining ratio of all the remaining partners of the firm.
2. Calculation of new
ratio of the remaining partners of the firm.
3. Calculation of
goodwill of the new firm and its accounting treatment.
4. Revaluation of
assets and liabilities of the new firm.
5. Distribution of
accumulated profits and losses and reserves among all the partners
(including the retiring partner).
6. Treatment of Joint
Life Policy
7. Settlement of the
amount due to the retiring partner
8. Adjustment of
capital accounts of the remaining partners in their new profit
sharing ratio.
The following are the various matters that need to be adjusted at the time of retirement of partners/partner.
1. Calculation of new gaining ratio of all the remaining partners of the firm.
2. Calculation of new ratio of the remaining partners of the firm.
3. Calculation of goodwill of the new firm and its accounting treatment.
4. Revaluation of assets and liabilities of the new firm.
5. Distribution of accumulated profits and losses and reserves among all the partners (including the retiring partner).
6. Treatment of Joint Life Policy
7. Settlement of the amount due to the retiring partner
8. Adjustment of capital accounts of the remaining partners in their new profit sharing ratio.
