Accountancy, asked by harshita151103, 3 months ago

Accounting problems on retirement of a partner

Answers

Answered by mohit221288
0

Explanation:

Accounting Problems

The accounting problems in the event of retirement of a partner can be put as follows:

(i) Adjustment for Goodwill,

(ii) Revaluation of assets and liabilities.

(iii) Adjustment regarding Reserves and other undistributed profits.

(iv) Adjustments regarding profit sharing ratios.

(v) Payment to the retiring partner.

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