Reconstitution of a Partnership Firm: Retirement/Death of a Partner

Identify the correct sequence to be followed at the time of Retirement of a Partner :
(A) New Balance Sheet after Retirement
(B) Transferring balance to Retiring partner's Loan Account
(C) Calculation Gaining/Sacrificing Ratio
(D) Partners' Capital Account
(E) Preparation of Revaluation Account

Choose the correct answer from the options given below :

Hari, Roy and Prasad are partners and their profit sharing ratio is 3:5: 1. Roy now wants to retire and his share is taken by Prasad. New ratio of Hari and Prasad will be

On retirement, the retiring partner's capital account will be credited with :
(A) His/Her Capital Balance
(B) His/Her share of goodwill
(C) Share of goodwill of remaining partners
(D) his/her share of Reserve
(E) his/her drawings

Choose the correct answer from the options given below :

In case of death of a partner, the whole amount transferred to :-

X, Y and Z are partners sharing profit in the ratio of 3: 4: 3. Y retires and X and Z share their profits in equal ratio. New ratio of X and Z will be

On the death of a partner, the profit on revaluation is transferred to
whose capital account ?

Shweta, Shreya and Shaniya were partners sharing profits in the ratio of 3: 2: 1. Shaniya retired from the firm and her capital, after making adjustments for reserves and gain of revaluation amounted to ₹4,50,000. Shaniya took 25% of the furniture, accepted bill of exchange for ₹52,000. Finally ₹2,75,000 was transferred to her loan account. The total value of furniture was :

Lisa, Monika and Nisha are partners in a firm sharing profits and losses in the ratio of 2: 2: 1. Their capital A/c stood as ₹50,000 , ₹50,000 and ₹25,000 respectively. Monika died and balance in the reserve on that date was ₹15,000 . If goodwill of the firm is ₹30,000 and profit on revaluation is ₹7,050. What amount will be transferred to Monika's Executor's Account?

Naveen, Suresh and Tarun are partners sharing profits and losses in the ratio of 5:3:2. Tarun retires from the firm and his share was taken over by Naveen and Suresh in the ratio 2:1. In such a case, the new share of profit will be:

On retirement/death of a partner, the remaining partners who have gained due to change in profit sharing ratio should compensate: