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Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner) – USHA Publication Class +2 – Solution

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When one partner in the partnership firm wants to retire and all partners agree with him, the situation is known as Retirement of a Partner.

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What is the Retirement of a Partner:

When one partner wants to get retirement from the partnership firm with the consent of all remaining partners if known as the Retirement of a partner. The partner may get retirement from the partnership firm in the following situation: –

  1. Retiring Partner’s own choice to get retired 
  2. End of the agreement between the Partners. 
  3. Where all remaining partners agree that one partner should have to get retired from the partnership. 

Check out the full article: 

Retirement of a Partner – Explained with Illustration

Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner) – USHA Publication Class +2 – Solution

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Question wise solutions of the all Questions of Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner) – USHA Publication Class +2 – Solutions are shown below: –

Question 01 Chapter 6 of +2- Part-
Question 01 Chapter 6 of +2-Part-1 1. (Different Cases of NPS) X, Y, and Z were partners sharing in 4 ...
Question 02 Chapter 6 of +2- Part-
Question 02 Chapter 6 of +2-Part-1 2. (Different Cases of NPS) B, C, and D were partners sharing equally. D ...
Question 03 Chapter 6 of +2- Part-
Question 03 Chapter 6 of +2-Part-1 3. (NPS) Calculate new profit sharing ratio :A, B, C and D were partners ...

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Question 04 Chapter 6 of +2- Part-
Question 04 Chapter 6 of +2-Part-1 4. (NPS) L , M and N have been sharing profits and losses in ...
Question 05 Chapter 6 of +2-Part-1 5. (Different Cases of NPS) A. B and C were partners in 9:6 5 ...
Question 06 Chapter 6 of +2- Part-
Question 06 Chapter 6 of +2-Part-1 6. (Different Cases of NPS) X, Y and Z are partners sharing profits and ...
Question 07 Chapter 6 of +2- Part-
Question 07 Chapter 6 of +2-Part-1 7. (Gaining Ratio) A , B & C are sharing profits in the ratio ...
Question 08 Chapter 6 of +2- Part-
Question 08 Chapter 6 of +2-Part-1 8. (Profit Distribution) P , Q and R were partners sharing in 2: 2:1 ...

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Question 09 Chapter 6 of +2- Part-
Question 09 Chapter 6 of +2-Part-1 9. (Share of Retiring Partner given in Proportionate to Remaining Partners) W, X, Y ...
Question 10 Chapter 6 of +2- Part
Question 10  Chapter 6 of +2-Part-1 10. (Gaining Ratio) X, Y and Z are sharing profits in the ratio of ...
Question 11 Chapter 6 of +2- Part
Question 11 Chapter 6 of +2-Part-1 11.(NPS/Gaining Ratio) X , Y and Z are sharing profit in the ratio of ...
Question 12 Chapter 6 of +2- Part
Question 12 Chapter 6 of +2-Part-1 12. (Journal) M, N and O were partners sharing in 3: 2: 1. On ...

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Question 13 Chapter 6 of +2- Part
Question 13 Chapter 6 of +2-Part-1 13.( Goodwill does not Exists in Books) A, B and Care partners in a ...
Question 14 Chapter 6 of +2- Part
Question 14 Chapter 6 of +2-Part-1 14. (Valuation of retiring Partner's Share in goodwill) I , M and O are ...
Question 15 Chapter 6 of +2- Part
Question 15 Chapter 6 of +2-Part-1 15. A , B and C are partners , sharing profits and losses in ...
Question 16 Chapter 6 of +2- Part
Question 16 Chapter 6 of +2-Part-1 16. (Goodwill does not Exists in Books) X, Y, and Z were partners in ...
Question 17 Chapter 6 of +2- Part
Question 17 Chapter 6 of +2-Part-1 17. (Amount of Goodwill Credited to Deceased Partner) P, R, and S are in ...

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Question 18 Chapter 6 of +2- Part
Question 18 Chapter 6 of +2-Part-1 18. (Goodwill Appear in the Books) A, B, and C are partners in a ...
Question 19 Chapter 6 of +2- Part
Question 19 Chapter 6 of +2-Part-1 19. (Goodwill Appear in the Books) A, B, and C are partners in a ...
Question 20 Chapter 6 of +2- Part
Question 20 Chapter 6 of +2-Part-1 20. (Goodwill Appear in the Books) A, B and C are partners sharing in ...
Question 21 Chapter 6 of +2- Part
Question 21 Chapter 6 of +2-Part-1 21. (Hidden goodwill) X, Y and Z are partners in 2 : 3 :5 ...

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Question 22 Chapter 6 of +2- Part
Question 22 Chapter 6 of +2-Part-1 22. (Different Cases of Goodwill) (a) Singh, Khan and Gupta are partners sharing profits ...
Question 23 Chapter 6 of +2- Part
Question 23 Chapter 6 of +2-Part-1 23. (Comprehensive) A , B and C are partners sharing profits in the ratio ...
Question 24 Chapter 6 of +2- Part
Question 24 Chapter 6 of +2-Part-1 24. (Goodwill does not exists) Ramesh, Suresh and Naresh were partners in a firm ...
Question 25 Chapter 6 of +2- Part
Question 25 Chapter 6 of +2-Part-1 25. (Revaluation Entries) Record the following in journal on the retirement of A, the ...
Question 26 Chapter 6 of +2- Part
Question 26 Chapter 6 of +2-Part-1 26. (Revaluation A/c) Prepare Revaluation Account of A, B and C on the retirement ...

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Question 27 Chapter 6 of +2- Part
Question 27 Chapter 6 of +2-Part-1 27. (Surrender Value of JLP given) A, B, and C are partners in the ...
Question 28 Chapter 6 of +2- Part
Question 28 Chapter 6 of +2-Part-1 28. (Surrender Value of JLP given) X, Y and Z are partners in a ...
Question 29 Chapter 6 of +2-Part-1 29. (JLP A/c Closed) Joint life policy Rs. 35,000 and reserve against this appear ...
Question 30 Chapter 6 of +2- Part
Question 30 Chapter 6 of +2-Part-1 30. (Journal/Ledger A/c/Balance Sheet) A, B and C were partners sharing in 3:2:1. balance ...

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Question 31 Chapter 6 of +2- Part
Question 31 Chapter 6 of +2-Part-1 31. (Revaluation A/c/Capital A/c/Balance Sheet) A, B and C were in partnership, sharing profits ...
Question 32 Chapter 6 of +2- Part
Question 32 Chapter 6 of +2-Part-1 32.( Revaluation A/c/Capital A/c/ Balance sheet ) A, B and Care in partnership sharing ...
Question 33 Chapter 6 of +2- Part
Question 33 Chapter 6 of +2-Part-1 33.( Revaluation A/c/Capital A/c/ Balance sheet ) E , F and G were partners ...
Question 34 Chapter 6 of +2- Part
Question 34 Chapter 6 of +2-Part-1 34. (Profit & Loss Adjustment A/c/Partner Capital A/c A B & C are partners ...
Question 35 Chapter 6 of +2- Part
Question 35 Chapter 6 of +2-Part-1 35. (Journal/Ledger A/c/Balance Sheet) A, B and C were partners sharing in 3:2:1. balance ...

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Question 36 Chapter 6 of +2- Part
Question 36 Chapter 6 of +2-Part-1 36. (Revaluation A/c/ Capital Ac/B/S/GST) X , Y and Z were partners in firm ...
Question 37 Chapter 6 of +2- Part
Question 37 Chapter 6 of +2-Part-1 37. ( Unrecorded liability / Joint Life policy )X, Y and Z were partners ...
Question 38 Chapter 6 of +2- Part
Question 38 Chapter 6 of +2-Part-1 38 (Adjustment of Goodwill without raising Goodwill A/c Partner Loan A/c Journal) A B ...
Question 39 Chapter 6 of +2- Part
Question 39 Chapter 6 of +2-Part-1 39 (Goodwill not appearing in Books/Payment to Retiring Partner made in Equal Installments) C ...

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Question 40 Chapter 6 of +2- Part
Question 40 Chapter 6 of +2-Part-1 40. (Capital to be adjusted in New Profit Sharing Ratio) The Balance Sheet of ...
Question 42 Chapter 6 of +2- Part
Question 42 Chapter 6 of +2-Part-1 42 (Adjustment of Capital/Capital of New Firm not given/GST) A, B and C carried ...
Question 43 Chapter 6 of +2- Part
Question 43 Chapter 6 of +2-Part-1 43. (Capital of New Firm given) The Balance sheet of X, Y, and Z ...
Question 44 Chapter 6 of +2- Part
Question 44 Chapter 6 of +2-Part-1 44. (Revaluation A/c/Partner's Capital A/c) A, B and C are partners sharing in 3: ...
Question 47 Chapter 6 of +2- Part
Question 47 Chapter 6 of +2-Part-1 47. (Deceased Partner's Share of Profit) A , B, and C are equal partners ...

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Question 48 Chapter 6 of +2- Part
Question 48 Chapter 6 of +2-Part-1 48. (Decreased Partner's Share of Profit) A , B and C are partners sharing ...
Question 49 Chapter 6 of +2- Part
Question 49 Chapter 6 of +2-Part-1 49. (Deceased Partner's Interest on Capital) A , B and C are partners sharing ...
Question 50 Chapter 6 of +2- Part
Question 50 Chapter 6 of +2-Part-1 50. (Different Cases of Deceased Partner's Share of Profit) A, B and C are ...
Question 51 Chapter 6 of +2- Part
Question 51 Chapter 6 of +2-Part-1 51. (Different Cases of Deceased Partner's Share of Profit) A, B & C were ...

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Question 52 Chapter 6 of +2- Part
Question 52 Chapter 6 of +2-Part-1 52. (Share of Goodwill) P, R, and S are in partnership sharing profits 4/8, ...
Question 53 Chapter 6 of +2- Part
Question 53 Chapter 6 of +2-Part-1 53. (Amount Payable to deceased Partner's Legal Representative) A , B and Care partners ...
Question 54 Chapter 6 of +2- Part
Question 54 Chapter 6 of +2-Part-1 54 (Journalisation of Joint Life Policy) A, B and C are equal partners. They ...
Question 55 Chapter 6 of +2- Part
Question 55 Chapter 6 of +2-Part-1 55. (Current A/c of Deceased Partner) A, B and C are equal partners of ...
Question 56 Chapter 6 of +2- Part
Question 56 Chapter 6 of +2-Part-1 56. (Journal Entries/Amount due to executors of deceased Partner) Following is the balance sheet ...

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Question 57 Chapter 6 of +2- Part
Question 57 Chapter 6 of +2-Part-1 57. (Journal Entries/Deceased Partner's Executor A/c) A, B and Care partners sharing profits and ...
Question 58 Chapter 6 of +2- Part
Question 58 Chapter 6 of +2-Part-1 58. (Deceased Partner's Ac) Following is the balance sheet of Tony, Sony and Remy ...
Question 59 Chapter 6 of +2- Part
Question 59 Chapter 6 of +2-Part-1 59. (Journal Entries/Executor's Ale) R, S , T were partners sharing profits and losses ...
Question 60 Chapter 6 of +2- Part
Question 60 Chapter 6 of +2-Part-1 60. (Journal Entries/Executor's A/c) Bansal , Gupta and Goyal were partners, sharing profits and ...

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Question 61 Chapter 6 of +2- Part
Question 61 Chapter 6 of +2-Part-1 61. (Revaluation A/c/Capital A/c Executor A/c/B/S) The balance sheet of A , B & ...

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