Home › Bihar Board Class 12 (Commerce) › Accountancy › Reconstitution of a Partnership Firm › A share of loss on revaluation of assets and lia…
A share of loss on revaluation of assets and liabilities has what effect on the sum due to a retiring partner?
AIt is added
BIt is ignored
CIt is doubled
DIt is deducted
Answer & Solution
Correct answer: D. It is deducted
His share of revaluation loss reduces his claim, since he bears part of the fall in value.
Related questions
A, B, C share 5:3:2 and C retires. A and B continue in the old ratio. What is their gaininThe new profit sharing ratio after retirement is the ratio in which whom share future profAccumulated losses at retirement are debited to all partners' capital accounts in which raRetiree's adjusted capital is Rs 60,000 but he is paid Rs 72,000. Hidden goodwill?A retiring partner is paid a lump sum above his adjusted capital. The excess is treated asOn retirement, the goodwill share of the outgoing partner is borne by whom?Annual profit is Rs 1,20,000. A 1/4 partner dies after 3 months. His profit share?The sum due to a retiring partner may include his share of profit up to what date?