1. Change in the Profit sharing ratio.
2. Adjustment of goodwill.
3. Treatment of accumulated profits and losses.
4. Revaluation of the assets and liabilities.
5. Calculation of the profit and loss up to the date of retirement.
6. Ascertainment of the total amount due to the retiring partner.
7. Payment of the amount due to the retiring partner.
8. Adjustment of the capitals of the continuing partners.
