# CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D

Read and download free pdf of CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D. Download printable Accountancy Class 12 Worksheets in pdf format, CBSE Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner Worksheet has been prepared as per the latest syllabus and exam pattern issued by CBSE, NCERT and KVS. Also download free pdf Accountancy Class 12 Assignments and practice them daily to get better marks in tests and exams for Class 12. Free chapter wise worksheets with answers have been designed by Class 12 teachers as per latest examination pattern

## Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner Accountancy Worksheet for Class 12

Class 12 Accountancy students should refer to the following printable worksheet in Pdf in Class 12. This test paper with questions and solutions for Class 12 Accountancy will be very useful for tests and exams and help you to score better marks

### Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner Worksheet Pdf

Retirement of Partner

I. Following QUESTIONS are of 1 Mark .

1. A, B and C are partners sharing profits and losses in the ratio 5:3:2. B retires. Calculate the new ratio.

2. X, Y and Z are partners sharing profits and losses in the ratio of 1/5, 1/3 and 7/15 respectively. Z retires and his share is taken up by X and Y in the ratio of 3:2. Calculate the new Ratio & gaining ratio.

3. X, Y and Z are partners sharing profits and losses in the ratio of 4/8, 1/8,and 3/8 respectively. Z retires and surrenders4/9TH of his share in favour of X and remaining in favour of Y. Calculate. the New Ratio.

4.A,B and C are partners sharing profits and losses in the ratio 4:3:2. B retires and the goodwill is valued at `10,800. No goodwill appears as yet in the books of the firm. Assuming that A and C will share future profits in the ratio5:3, make entries for goodwill.

5. P,Q and R are partners sharing profits and losses in the ratio 4:3:1. Q retires from the firm selling his share of profit to P for `3,600 and R for `4,500. The profit for the year after Q’s retirement was `10, 500.Calculate the new profit sharing ratio and pass journal entries.

6. A, B and C are equal partners in a firm. B retires and his claim including his Capital and his share of goodwill is `40,000. He is paid in kind a vehicle valued at `20,000 unrecorded in the books of the firm till the date of retirement and the balance in cash. Give the journal entries.

7. A ,B and C are partners sharing profits as 20%,30% and 50%. A decided to retire with the consent of other partners and sold his share to B. Goodwill was valued at two and a half years purchase of the average profits of last three yea`
Profits of these three years were ` 50,000, `70,000 and ` 60,000. Reserve fund stood in the balance sheet at ` 30,000 at the time of his retirement. You are required to record necessary journal entries to record above adjustments on A’s retirement.

8. A,B and C are partners in a firm sharing profits in the ratio of 2:3:4 . On April 1, 2013, A retires and on that date there was a debit balance of ` 72,000 in the profit and loss account and a General Reserve of `90,000 in the book. B and C decided to share future profits in the ratio of 2:1.Show the necessary journal entry for the treatment of profit and loss account balance on A’s retirement.

II. Following QUESTIONS are of 3 Marks .

9. Journalise the following :-

(a) Chander, Tara and Ravi were partners in a firm sharing profits in the ratio of 2:1:2 on 15.02.2007 Chander died and the new profit sharing ratio between Tara & Ravi was 4:11. On Chander’s death the goodwill of the firm was valued at ` 90,000. Calculate gaining ratio and pass necessary journal entry for the treatment of goodwill on Chander’s death without opening goodwill account.

(b) A, B, C and D are partners sharing profits in the ratio of 3:4:3:2. On the retirement of C, the goodwill was valued at ` 60,000. A, B and D decided to share future profits equally. Pass the necessary journal entry for the treatment of goodwill, without opening Goodwill Account.

III. Following QUESTIONS are of 6 Marks .

10. X,Y and Z are partners sharing profits and losses in the ratio of their capitals. Y retired on 31-12-2014 the date on which the B/S stood as under.

The other terms agreed upon are as under:-
a) Prepaid Insurance `1,000
b) Buildings appreciated by 10%
c) Provision for doubtful debts to be 5%
d) Machinery be depreciated by 5%
e) Provision of `1,500 be made for outstanding expenses.
f) Goodwill of the firm is valued at `18,000 and Y’s share is adjusted in the account of X and Z. Y is paid `5,000 immediately and the balance paid into 4 equal yearly installments together with 10% interest. Pass Journal entries, Prepare Revaluation a/c, Capital a/c, Balance sheet and Y’s loan a/c when it is paid into four equal yearly installments.

11. X,Y and Z are partners sharing profits and losses in the ratio of their capitals. Y retired on 31-12- 2009 and the date on which the B/S stood as under.

a)Building appreciated by 20%, Stock depreciated by 10%, Provision for doubtful debts was to be 5% and a reserve for legal charges payable was to be made at `1,800.
b) Goodwill of the firm be valued at `48,000.
c) Rs40,000 from Y’s capital account be transferred to his loan account and balance be paid In cash.
d)The capital of the new firm be fixed at `1,00,000 and the new profit sharing ratio is 3:2.
Give necessary ledger account and prepare the new Balance sheet.

12. L, M and N were partners sharing profits as 50%,30% and 20% respectively. On March 31,2014 ,their Balance Sheet stood as follows:

Balance of L, M and N as at March 31,2014
On this date M retires and L and N agreed to continue on the following terms:

a) Firm’s goodwill was valued at ` 51,000 and it was decided to adjust M’s goodwill into capital accounts of continuing partners.
b) There is a claim for workmen’s compensation to the extent of ` 4,000. Investments are brought down to ` 15,000.
c) Provision for bad debts is to be reduced by ` 1,000.
d) M will be paid ` 8,200 in cash and balance will be transferred to his Loan Account which will be paid in 3 equal installments together with interest @ 10% p.a.
e) L’s and N’s capital will be adjusted in their new profit sharing ratio i.e.3:2 through cash accounts prepare necessary ledger accounts and Balance Sheet.

13. A, B and C were partners sharing profits in the proportion 5:3:2 respectively.

The Balance sheet of the firm on 31st Dec 2014 was as follows:-

They had taken a joint life policy of the face value of `40,000. On 31st Dec.2014, its surrender value was `8,000. On this date B decided to retire and for this purpose:
a) Goodwill was valued at `30,000.
b) Fixed assets were valued at `60,000.
c) Stock was considered as worth `20,000.
B was to be paid through cash brought in by A and C in such a way as to make their Capitals proportionate to their new profit sharing ratio which was to be A 3/5 and C 2/5. The Joint life policy is not to appear in the Balance Sheet. Prepare Revaluation a/c, Capital Account and the Balance Sheet.

 CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet CBSE Class 12 Accountancy Not For Profit Organisation Worksheet Set A CBSE Class 12 Accountancy Not For Profit Organisation Worksheet Set B
 CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set A CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set B CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set A CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set B CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set D CBSE Class 12 Accountancy Fundamentals Worksheet Set A CBSE Class 12 Accountancy Fundamentals Worksheet Set B CBSE Class 12 Accountancy Partnership Volume Worksheet
 CBSE Class 12 Accountancy Admission of A Partner Worksheet Set A CBSE Class 12 Accountancy Admission of A Partner Worksheet Set B CBSE Class 12 Accountancy Admission of A Partner Worksheet Set C CBSE Class 12 Accountancy Change in Profit Sharing Worksheet Set A CBSE Class 12 Accountancy Change in Profit Sharing Worksheet Set B CBSE Class 12 Accountancy Change in Profit Sharing Worksheet Set C CBSE Class 12 Accountancy Goodwill Nature And Valuation Worksheet Set A CBSE Class 12 Accountancy Goodwill Nature And Valuation Worksheet Set B CBSE Class 12 Accountancy Goodwill Nature And Valuation Worksheet Set C
 CBSE Class 12 Accountancy Death of A Partner Worksheet Set A CBSE Class 12 Accountancy Death of A Partner Worksheet Set B CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set A CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set B CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set C CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D CBSE Class 12 Accountancy Retirement or Death of a Partner Worksheet Set A CBSE Class 12 Accountancy Retirement or Death of a Partner Worksheet Set B
 CBSE Class 12 Accountancy Dissoultion of Partnership Firm Worksheet Set A CBSE Class 12 Accountancy Dissoultion of Partnership Firm Worksheet Set B CBSE Class 12 Accountancy Dissoultion of Partnership Firm Worksheet Set C
 CBSE Class 12 Accountancy Accounting For Companies Worksheet CBSE Class 12 Accountancy Accounting For Share Capital Worksheet
 CBSE Class 12 Accountancy Issue And Redemption of Debentures Worksheet Set A CBSE Class 12 Accountancy Issue And Redemption of Debentures Worksheet Set B CBSE Class 12 Accountancy Issue And Redemption of Debentures Worksheet Set C
 CBSE Class 12 Accountancy Financial Statements of A Company Worksheet
 CBSE Class 12 Accountancy Analysis of Financial Statements Worksheet CBSE Class 12 Accountancy Tools of Analysis Worksheet Set A CBSE Class 12 Accountancy Tools of Analysis Worksheet Set B
 CBSE Class 12 Accountancy Ratio Analysis Worksheet Set A CBSE Class 12 Accountancy Ratio Analysis Worksheet Set B CBSE Class 12 Accountancy Ratio Analysis Worksheet Set C
 CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set A CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set B CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set C
 CBSE Class 12 Accountancy All Chapters Question Bank CBSE Class 12 Accountancy All Chapters Worksheet CBSE Class 12 Accountancy Worksheet Set A Solved CBSE Class 12 Accountancy Worksheet Set B Solved CBSE Class 12 Accountancy Worksheet Set C Solved CBSE Class 12 Accountancy Worksheet Set D Solved CBSE Class 12 Accountancy Worksheet Set E Solved CBSE Class 12 Accountancy Worksheet Set F Solved CBSE Class 12 Accountancy Worksheet Set G Solved CBSE Class 12 Accountancy Worksheet Set H Solved CBSE Class 12 Accountancy Worksheet Set I Solved

## More Study Material

### CBSE Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner Worksheet

The above practice worksheet for Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner has been designed as per the current syllabus for Class 12 Accountancy released by CBSE. Students studying in Class 12 can easily download in Pdf format and practice the questions and answers given in the above practice worksheet for Class 12 Accountancy on a daily basis. All the latest practice worksheets with solutions have been developed for Accountancy by referring to the most important and regularly asked topics that the students should learn and practice to get better scores in their examinations. Studiestoday is the best portal for Printable Worksheets for Class 12 Accountancy students to get all the latest study material free of cost.

### Worksheet for Accountancy CBSE Class 12 Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner

Teachers of studiestoday have referred to the NCERT book for Class 12 Accountancy to develop the Accountancy Class 12 worksheet. If you download the practice worksheet for the above chapter daily, you will get better scores in Class 12 exams this year as you will have stronger concepts. Daily questions practice of Accountancy printable worksheet and its study material will help students to have a stronger understanding of all concepts and also make them experts on all scoring topics. You can easily download and save all revision Worksheets for Class 12 Accountancy also from www.studiestoday.com without paying anything in Pdf format. After solving the questions given in the practice sheet which have been developed as per the latest course books also refer to the NCERT solutions for Class 12 Accountancy designed by our teachers

#### Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner worksheet Accountancy CBSE Class 12

All practice paper sheet given above for Class 12 Accountancy have been made as per the latest syllabus and books issued for the current academic year. The students of Class 12 can be assured that the answers have been also provided by our teachers for all test paper of Accountancy so that you are able to solve the problems and then compare your answers with the solutions provided by us. We have also provided a lot of MCQ questions for Class 12 Accountancy in the worksheet so that you can solve questions relating to all topics given in each chapter. All study material for Class 12 Accountancy students have been given on studiestoday.

#### Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner CBSE Class 12 Accountancy Worksheet

Regular printable worksheet practice helps to gain more practice in solving questions to obtain a more comprehensive understanding of Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner concepts. Practice worksheets play an important role in developing an understanding of Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner in CBSE Class 12. Students can download and save or print all the printable worksheets, assignments, and practice sheets of the above chapter in Class 12 Accountancy in Pdf format from studiestoday. You can print or read them online on your computer or mobile or any other device. After solving these you should also refer to Class 12 Accountancy MCQ Test for the same chapter.

#### Worksheet for CBSE Accountancy Class 12 Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner

CBSE Class 12 Accountancy best textbooks have been used for writing the problems given in the above worksheet. If you have tests coming up then you should revise all concepts relating to Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner and then take out a print of the above practice sheet and attempt all problems. We have also provided a lot of other Worksheets for Class 12 Accountancy which you can use to further make yourself better in Accountancy

Where can I download latest CBSE Practice worksheets for Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner

You can download the CBSE Practice worksheets for Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner for the latest session from StudiesToday.com

Can I download the Practice worksheets of Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner in Pdf

Yes, you can click on the links above and download chapter-wise Practice worksheets in PDFs for Class 12 for Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner

Are the Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner Practice worksheets available for the latest session

Yes, the Practice worksheets issued for Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner Class 12 Accountancy have been made available here for the latest academic session

How can I download the Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner Class 12 Accountancy Practice worksheets

You can easily access the links above and download the Class 12 Practice worksheets Accountancy for Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner

Is there any charge for the Practice worksheets for Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner

There is no charge for the Practice worksheets for Class 12 CBSE Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner you can download everything free

How can I improve my scores by solving questions given in Practice worksheets in Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner Class 12 Accountancy

Regular revision of practice worksheets given on studiestoday for Class 12 subject Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner can help you to score better marks in exams

Are there any websites that offer free Practice test papers for Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner

Yes, studiestoday.com provides all the latest Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner test practice sheets with answers based on the latest books for the current academic session

Can test sheet papers for Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner Class 12 Accountancy be accessed on mobile devices

Yes, studiestoday provides worksheets in Pdf for Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner Class 12 Accountancy in mobile-friendly format and can be accessed on smartphones and tablets.

Are practice worksheets for Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner available in multiple languages

Yes, practice worksheets for Class 12 Accountancy Part 1 Chapter 4 Reconstitution of a Partnership Firm Retirement/Death of a Partner are available in multiple languages, including English, Hindi