Revaluation of Assets and liabilities in partnership accounts
Revaluation of Assets and liabilities in partnership accounts Read More »
Description Gaining Ratio Sacrificing Ratio Formula for calculation New profit Sharing Ratio Less Old Profit Sharing ratio Old profit sharing Ratio Less New profit Sharing Ratio When calculated a) Retirement of a Partner b) Change in profit sharing ratio among existing partners a) Admission of a partner b) Change in profit sharing ratio among existing
Gaining Ratio and Sacrificing Ratio – Difference Read More »
Retirement of a partner is another form of reconstitution of the firm.. In this case, also, the old partnership agreement comes to an end and a new partnership agreement comes into effect.. A partner may retire from the firm due to any of the following reasons: Adjustments required on the retirement of a partner Liabilities
Retirement of a Partner – Meaning and Effects Read More »