Balbharati solutions for Book-keeping and Accountancy 12th Standard Hsc Maharashtra State Board
Chapter 4: Reconstitution of Partnership (Retirement of Partner) [Latest edition]
Select the most appropriate alternative from those given below and rewrite the sentence.
The Profit or Loss from revaluation on the retirement of a partner is shared by ______.
The remaining partners
All the partners
Only retiring partner
Bank
Decrease in the value of assets should be __________to profit and Loss Adjustment Account.
Debited
Credited
Added
Equal
The balance of the capital account of retired partner is transferred to his _________ account if it is not paid.
Loan
Personal
Current
Son's
Gain ratio _______ Ratio less Old Ratio Gain Ratio _____ Ratio less Old Ratio.
New
Equal
Capital
Sacrifice
New Ratio = Old Ratio + _____ Ratio
Gain
Capital
Sacrifice
Current
Apte, Bhate and Chitale are sharing 1/2, 3/10, and 1/5 if Apte retire their new ratio will be ______ .
5: 2
3: 2
5: 3
2: 5
