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    Retirement of A Partner-Worksheet

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    HIMANSHU NAGAR
    The document contains 3 questions about calculating new profit-sharing ratios for partnerships when a partner retires. The first question involves partners A, B and C sharing profits in a 1:2:1/10 ratio, and calculating the new ratio when C retires. The second question involves partners R, S and M sharing profits in a 2:2:1/5 ratio, and calculating the new ratio when M retires and his share is taken by R and S in a 1:2 ratio. The third question involves partners L, M and O sharing profits in a 4:3:2 ratio, calculating M's share of goodwill valued at Rs. 72,000 when he retires, and the new profit ratio

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    Retirement of A Partner-Worksheet

    Uploaded by

    HIMANSHU NAGAR
    21 views1 page
    The document contains 3 questions about calculating new profit-sharing ratios for partnerships when a partner retires. The first question involves partners A, B and C sharing profits in a 1:2:1/10 ratio, and calculating the new ratio when C retires. The second question involves partners R, S and M sharing profits in a 2:2:1/5 ratio, and calculating the new ratio when M retires and his share is taken by R and S in a 1:2 ratio. The third question involves partners L, M and O sharing profits in a 4:3:2 ratio, calculating M's share of goodwill valued at Rs. 72,000 when he retires, and the new profit ratio

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    Retirement of a Partner-worksheet

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    The document contains 3 questions about calculating new profit-sharing ratios for partnerships when a partner retires. The first question involves partners A, B and C sharing profits in a 1:2:1/10 ratio, and calculating the new ratio when C retires. The second question involves partners R, S and M sharing profits in a 2:2:1/5 ratio, and calculating the new ratio when M retires and his share is taken by R and S in a 1:2 ratio. The third question involves partners L, M and O sharing profits in a 4:3:2 ratio, calculating M's share of goodwill valued at Rs. 72,000 when he retires, and the new profit ratio

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    21 views1 page

    Retirement of A Partner-Worksheet

    Uploaded by

    HIMANSHU NAGAR
    The document contains 3 questions about calculating new profit-sharing ratios for partnerships when a partner retires. The first question involves partners A, B and C sharing profits in a 1:2:1/10 ratio, and calculating the new ratio when C retires. The second question involves partners R, S and M sharing profits in a 2:2:1/5 ratio, and calculating the new ratio when M retires and his share is taken by R and S in a 1:2 ratio. The third question involves partners L, M and O sharing profits in a 4:3:2 ratio, calculating M's share of goodwill valued at Rs. 72,000 when he retires, and the new profit ratio

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    RETIREMENT OF A PARTNER

    WORKSHEET

    Question 1.
    A, B and C were partners sharing profits in the ratio of 1/2, 2/5 and 1/10. Find the new ratio of the
    remaining partners if C retires.

    Question 2
    R, S and M are partners sharing profit in the ratio of 2/5, 2/5 and 1/5.M decides to retire from the
    business and his share is taken by R and S in the ratio of 1:2. Calculate the new profit-sharing ratio.

    Question 3
    L, M and O are partners sharing profits and losses in the ratio of 4:3:2. M retires and the goodwill is valued at
    Rs.72,000. Calculate M’s share of goodwill and pass the necessary Journal entry for the same without opening
    the Goodwill Account. L and 0 decided to share the future profits and losses in the ratio of 5:3.

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