Retirement of partner

At the time of retirement of a partner,if goodwill appears in the Balance sheet,it must be written off and the capital accounts of all partners are debited in

• the old profit-sharing ratio

• The new profit-sharing ratio

• the capital ratio

In the event of death of a partner,the amount of general reserve is transferred to partners' capital accounts in

• the new profit-sharing ratio

• the old profit-sharing ratio

• the capital ratio

On the death of a partner,credit balance of profit and loss account appearing in the balance sheet should be credited to the capital accounts of

• all partners including the deceased partner in their profit-sharing ratio

• the remaining partners in the new profit-sharing ratio

• neither the deceased partner nor the remaining partners

A,B, and C are partners sharing profits in the ratio of 2:2:1.C retired.The new profit-sharing ratio between A and B will be

• 2:1

• 1:1

• 3:1

According to section 37 of the Indian partnership act,1932,the interest payable to the representative of deceased partner on the amount left by him will be

• 6% p.a.

• 10% p.a.

• the bank rate

The share of goodwill of the retiring partner is debited to remaining partners in their

• capital ratio

• New ratio

• Gaining ratio

Revaluation account is prepare to calculate gain or loss at the time of

• Admission of a partner

• death of a partner

• Retirement of partner

• All of the above

At the time of retirement of partner the amount of goodwill of retiring partner will be paid by the continuing partners in ______ ratio

If the retiring partner is not paid full amount due to him immediately on retirement,his balance is transferred to his

• Suspense A/C

• Bank A/C

• Capital A/C

• Loan A/C

Gaining ratio is calculated by

• New share-old share

• old ratio-new share

• New share+ old share

• old share+ acquired share