Accountancy, asked by nishukumari947083, 16 days ago

how would you calculate the amount payable to the retiring partner.​

Answers

Answered by shambhavi1634
4

To find out the amount payable to retiring partner, the following items are considered:

Balance to his Capital Account, as per last Balance Sheet.

Proportionate profit on revaluation.

Share of goodwill.

Interest on capital up to the date of retirement.

Salary, if any, payable to him.

Answered by soniatiwari214
0

Answer:

The retiring partner get his amount according to his capital account balance.

Explanation:

In this question, we have to describe how the amount payable to the retiring partner is calculated. As we know that when a partner is retire from the partnership his share is given. To calculate his amount the balance of his capital account in the latest balance sheet is calculated. To calculate the balance of his capital account his share in the profit, goodwill, general reserve, are added. Also the amount of interest on capital and salary of the partner is added to calculate the final amount payable to the retiring partner.

Hence, this is the process in which the amount payable to the retiring partner is calculated.

#SPJ3

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