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Identify the correct sequence to be followed at the time of Retirement of a Partner : (A) New Balance Sheet after Retire…

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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 :

a

(C), (D), (E), (A), (B)

b

(C), (E), (D), (B), (A)

c

(A), (B), (C), (D), (E)

d

(C), (E), (B), (A), (D)

✓ Correct answer: b)

(C), (E), (D), (B), (A)

Explanation

The correct sequence to be followed at the time of Retirement of a Partner:

(C) Calculation Gaining/Sacrificing Ratio

(E) Preparation of Revaluation Account

(D) Partners' Capital Account

(B) Transferring balance to Retiring partner's Loan Account

(A) New Balance Sheet after Retirement

Therefore, Option B is correct.

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