What treatment is made of accumulated profits and losses on the retirement of partner? Post category:Accountancy Reading time:1 mins read SOLUTION Accumulated profits are credited to the Capital Accounts of old partners in their old ratio and accumulated losses are debited to their Capital Accounts in old ratio. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat is meant by ‘Gaining Ratio’ on retirement of a partner? Next PostFor which share of goodwill a partner is entitled at the time of his retirement? You Might Also Like Name any two items that can be disclosed under ‘Long-term Borrowings’. September 30, 2022 A and B were partners in a firm sharing profits in 3 : 1 ratio. They admitted C as a partner for 1/4th share in the future profits. C was to bring Rs. 60,000 for his capital. The Balance Sheet of A and B as at 1st April, 2019, the date on which C was admitted, was: August 2, 2022 What is meant by retirement of a partner? October 8, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A and B were partners in a firm sharing profits in 3 : 1 ratio. They admitted C as a partner for 1/4th share in the future profits. C was to bring Rs. 60,000 for his capital. The Balance Sheet of A and B as at 1st April, 2019, the date on which C was admitted, was: August 2, 2022