0 votes
in Accounts by (20 points)

Please log in or register to answer this question.

1 Answer

0 votes
by (36.5k points)

To find out the amount payable to retiring partner, the following items are considered: 

  • Balance to his Capital Account, as per last Balance Sheet. 
  • Proportionate profit on revaluation. 
  • Share of goodwill. 
  • Interest on capital up to the date of retirement. 
  • Salary, if any, payable to him.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.