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Slate any two items of deduction that may have to be made from the amount payable to a retiring partner.

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

The following deductions are entered on the debit side of retiring Partner s Capital Account: (i) His share of loss on revaluation of assets and reassessment of liabilities; (ii) His share of existing goodwill written off.







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Previous PostAt what rate interest is payable on the amount remaining unpaid to the executor of deceased partner? (C.B.S.E. 2019 M.P.)
Next PostWhat is the basis of calculation of deceased partner’s share of profit from the date of last balance sheet to the date of his death? (C.B.S.E. 2019.Kerala)

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