CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D

Access the latest CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D. We have provided free printable Class 12 Accountancy worksheets in PDF format, specifically designed for Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner. These practice sets are prepared by expert teachers following the 2025-26 syllabus and exam patterns issued by CBSE, NCERT, and KVS.

Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner Accountancy Practice Worksheet for Class 12

Students should use these Class 12 Accountancy chapter-wise worksheets for daily practice to improve their conceptual understanding. This detailed test papers include important questions and solutions for Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner, to help you prepare for school tests and final examination. Regular practice of these Class 12 Accountancy questions will help improve your problem-solving speed and exam accuracy for the 2026 session.

Download Class 12 Accountancy Part 1 Chapter 3 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.

 CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D 1

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.

CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D 2

The following adjustments were made:-
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
CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D 3
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:-
CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D 5
 
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.
 

Please click on below link to download CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D

Part 1 Chapter 01 Accounting for Partnership Basic Concepts
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
Part 1 Chapter 02 Reconstitution of a Partnership Firm Admission of a Partner
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
Part 1 Chapter 03 Reconstitution of a Partnership Firm Retirement/Death of a Partner
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
Part 1 Chapter 04 Dissolution of Partnership Firm
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
Part 2 Chapter 01 Accounting for Share Capital
CBSE Class 12 Accountancy Accounting For Companies Worksheet
CBSE Class 12 Accountancy Accounting For Share Capital Worksheet
Part 2 Chapter 02 Issue and Redemption of Debentures
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
Part 2 Chapter 03 Financial Statements of a Company
CBSE Class 12 Accountancy Financial Statements of A Company Worksheet
Part 2 Chapter 04 Analysis of Financial Statements
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
Part 2 Chapter 05 Accounting Ratios
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
Part 2 Chapter 06 Cash Flow Statement
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
z More Worksheets for Class 12 Accountancy
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
~ Class 12 Accountancy (Old Chapters)
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

Important Practice Resources for Class 12 Accountancy

Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner CBSE Class 12 Accountancy Worksheet

Students can use the Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner practice sheet provided above to prepare for their upcoming school tests. This solved questions and answers follow the latest CBSE syllabus for Class 12 Accountancy. You can easily download the PDF format and solve these questions every day to improve your marks. Our expert teachers have made these from the most important topics that are always asked in your exams to help you get more marks in exams.

NCERT Based Questions and Solutions for Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner

Our expert team has used the official NCERT book for Class 12 Accountancy to create this practice material for students. After solving the questions our teachers have also suggested to study the NCERT solutions  which will help you to understand the best way to solve problems in Accountancy. You can get all this study material for free on studiestoday.com.

Extra Practice for Accountancy

To get the best results in Class 12, students should try the Accountancy MCQ Test for this chapter. We have also provided printable assignments for Class 12 Accountancy on our website. Regular practice will help you feel more confident and get higher marks in CBSE examinations.

Where can I download the latest PDF for CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D?

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Are these Accountancy Class 12 worksheets based on the 2026 competency-based pattern?

Yes, our CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D includes a variety of questions like Case-based studies, Assertion-Reasoning, and MCQs as per the 50% competency-based weightage in the latest curriculum for Class 12.

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Daily practice with these Accountancy worksheets helps in identifying understanding gaps. It also improves question solving speed and ensures that Class 12 students get more marks in CBSE exams.

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