Question

how is the amount due to retiring partner cslculated? explain in breif​

Answer 1

Answer:

The amount due to the retiring partner from the partnership firm is the balance of his capital account after making adjustments for goodwill, accumulated profits and losses, profit or loss on revaluation, remuneration due, etc.

Explanation:

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Answer 2

Retiring partner's share of goodwill is then ascertained which depends on the share of profits the retiring partner has been getting. The retiring partner's capital account is credited with his share of goodwill and the amount is debited to the remaining partners' capital accounts in the ratio of their gain.