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Important Question Answers for Class 12 Accountancy Chapter 4 Reconstitution Of A Partnership Firm – Retirement/Death Of A Partner

Uploaded by Anil Sharma Uploaded on 4 Aug 2022 896 views

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ContributorAnil Sharma
PublishedUploaded on 4 Aug 2022
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About this Question Bank

Important Question Answers for Class 12 Accountancy Chapter 4 Reconstitution Of A Partnership Firm – Retirement/Death Of A Partner is a question bank PDF for CBSE Class 12 Accountancy students, focused on the Retirement or Death of a Partner chapter.

Topics in this chapter include:

  • Accounting treatment of goodwill as per AS-26 upon retirement/death
  • Calculation of new profit-sharing ratio and gaining ratio upon retirement or death
  • Death of a Partner: Computation of profit share up to the date of death (Time and Turnover basis)
  • Preparation of Deceased Partner's Capital Account and Executor's Account
  • Preparation of Retiring Partner's Capital Account and Settlement of amount due via Loan Account
  • Revaluation of assets and reassessment of liabilities upon retirement/death
  • Treatment of accumulated reserves, unassigned profits, and losses upon retirement/death

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