Nonu, Monu and Sonu are partners sharing profits and losses in the ratio of 4:3:1 respectively.Monu retires, selling his of profit to Nonu and Sonu for Rs.810, i.e Rs.,360 bring paid by Nonu and Rs.450 being paid by Sonu.The profit of the firm after Monu's retirement is Rs,500.Distribute the given profit between Nonu and Sonu, showing how you arrive at the same.

A, P and M are partners.A retires.Calculate the future profit sharing ratio and gaining ratio of continuing partners if they agree to acquire her share (i)in the ratio of 5:3 (ii)equally.

The Balance sheet of Sun, Moon and Star sharing profits and losses in the ratio of 2:3:2 is given by                                                    

On same date, Sun desired to retire on the following terms.
(i) Land and Buildings be appreciated by 30%
(ii) Machinery be depreciated by 30%
(iii) Bad debts Rs.22,200.
(iv)The claim on account of workmen compensation fund was estimated at Rs.9,600.
(v)Goodwill of the entire firm be valued at Rs.1,68,000.Moon and Star decided to share the future profits and losses in the ratio of 3:4.
(vi)The total capital of the firm is to be the same as before retirement.Individual capitals be in their profit sharing ratio.
(vii)Amount due to Sun is to be settled by paying Rs.60,000 in cash and balance by transferring to loan account.
Prepare revaluation account, capital accounts of partners, balance sheet of new firm.

The balance sheet of Block, white and red sharing profits and losses in the ratio 5:3:2 on 31st December 2014 is given below
                                                 Balance Sheet
                                            as at 31st December 2014

Red retire from 1st May 2015 and Black and White decide to share future profits and losses in the ratio of 3:5.Red has withdrawn Rs.20.000 during 2015.It was agreed that
(i) Goodwill be valued at 2 1/2 years' purchase of average of four completed years' profits which were:2011 Rs.4,04,000; 2012 Rs.56,000; 2013 Rs.64,000
(ii) Red's share of profits from the closure of last accounting year till date of retirement be calculated on the basis of the average of three completed years' profits before retirement.
(iii) Patents undervalued by Rs.28000, machinery overvalued by Rs.27,200, all debtors are good.Rs.2,000 provided in sundry creditors is not likely to arise.Unaccounted accrued income of Rs.4,400 to be provided for.A debtor whose dues of Rs.800 were written-off as bad debts, paid 50% in full settlement.A Claim of Rs.2,000 on account of workmen's compensation to be provided for.
(iv) Investments be sold for Rs.16,400.Red was to be paid through cash brought in by Black and White in such a way as to make their capitals proportionate to their new profit sharing ratio of 3:5 assuming that a minimum cash and bank balance of Rs.18,000 was to be maintained.
Prepare revaluation account, capital accounts of partners and the balance sheet of new firm.

The Balance sheet of Zee, Pee and Cee who were sharing profits in proportion to their capitals given below

Pee retires and the following re-adjustments of the assets and liabilities have been agreed upon before the ascertainment of the payable by the firm to Pee.
(i)That the stock be depreciated by 6%.
(ii)That the provision for doubtful debts be brought up to 5% on debtors.
(iii)That the factory land and building up to 5% on debtors.
(iv)That a provision of Rs.4,620 be made in respect of outstanding legal charges.
(V)That the goodwill of the entire firm be fixed at Rs.64,800 and Pee's share of the same be adjusted into the accounts of Zee and Cee who are going to share in future in the proportion of five-eighths and three-eighths respectively.(No good will account is to be raised).
(vi)That the entire capital of the firm as newly constituted be fixed at Rs.1,68,000 between Zee and Cee in the proportion of five-eighths and three-eighths after passing entires in their accounts for adjustments(i.e actual cash to be paid off or to be brought in by the continuing partners as the case may be).
Pass the necessary journal entries to give effect to the above arrangement and prepare the balance sheet of new firm transferring the amount due to retiring partner to a separate loan account in his name.

Ram, Mohan and Sohan were partners in firm sharing profits in the ratio 4:3:2.His share was taken over equally by Ram and Sohan.In which ratio will the profit or loss on revaluation of assets and liabilities on the retirement of Mohan be transferred to the capital accounts of the partners?

Why is it necessary to revalue assets and liabilities at the time of retirement of a partner?

Ram, Laxman and Bharat are partners sharing profits in the ratio of 3:2:1. Goodwill is appearing in the books at a value of Rs.1,80,000. Laxman retires and at the time of his retirement, goodwill is valued at Rs.2,52,000. Ram and Bharat decided to share future profits in the ratio of 2:1. The profits for the first year after Laxman's retirement amount to Rs.1,20,000. Give the necessary Journal Entries to record goodwill and to distribute the profits. Show your calculations clearly.

A, B and C were partners sharing profits in the ratio of 6:4:5. Their capitals were A Rs.1,00,000, B-Rs.80,000 and C-Rs.60,000. On 1st April 2009, B retired from the firm and the new profit sharing ratio between A and C was decided as 11:4. On B's retirement the goodwill of the firm was valued at Rs.1,80,000. Showing your calculations clearly, pass necessary journal entry for the treatment of goodwill on B's retirement.