CBSE Class 12 Accountancy Retirement And Death Of Partner Worksheet Set D

Read and download the CBSE Class 12 Accountancy Retirement And Death Of Partner Worksheet Set D in PDF format. We have provided exhaustive and printable Class 12 Accountancy worksheets for Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner, designed by expert teachers. These resources align with the 2025-26 syllabus and examination patterns issued by NCERT, CBSE, and KVS, helping students master all important chapter topics.

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

Students of Class 12 should use this Accountancy practice paper to check their understanding of Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner as it includes essential problems and detailed solutions. Regular self-testing with these will help you achieve higher marks in your school tests and final examinations.

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

 

Question : X, Y and Z are Partners sharing profits in the ratio of 1/2, 1/3 and 1/6. X retires. New profit sharing ratio will be :
(a) 2 : 1 (b) 1 : 2 (c) 2 : 3 (d) l : 3
Answer :  A
 
Question : X, Y and Z are partners sharing profits in the ratio of 4 : 3 : 2. Y retires. X and Z decided to share the profi ts in the ratio of 2 : 1 in future. Gaining ratio of X and Z will be :
(a) 1 : 1 (b) 3 : 2 (c) 2 : 1 (d) 3 : 1
Answer :  C
 
Question : X, Y and Z were partners sharing profi ts in the ratio of 4 : 3 : 2. X retires. Assuming Y & Z will share profi ts in the ratio of 2 : 1 Gaining ratio will be : 
(a) 2 : 1 (b) 4 : 3 (c) 3 : 2 (d) 3 : 1
Answer :  D

 

Very Short Answer Type Questions

 

Question : How would you deal with existing goodwill at the retirement of a partner?
Answer : Existing goodwill be written off by debiting ‘All Partners’ Capital A/cs’ in their old ratio and crediting the Goodwill A/c.
 
Question : For which share of goodwill a partner is entitled at the time of his retirement?
Answer :  According to his share of profit in a firm.
 
Question : Why retiring partner is entitled to a share of goodwill of the firm?
Answer : The retiring partner is entitled to his share of goodwill of the firm because the goodwill earned by the firm is the result of the efforts of all the existing partners. As retiring/deceased partner will not be sharing future profits, it will be fair to compensate them for the same.

Question. At what rate is interest payable to the amount remain unpaid to the executor of deceased partner?
Answer : 6% p.a

Question. Name two adjustments to be made at the time of death of partner
Answer : a) calculation of death partners share of goodwill b) calculation of death partners share of profit to the date of death.

Question. “Retiring partner is not liable for firm’s acts after his retirement”. Is the statement True or False?
Answer : false

Question. What do you mean by gaining ratio?
Answer : The ratio in which remaining partners share the retiring or death partners share of profit is called gaining ratio.

 

Short Answer Type Questions 

 

Question : What is the need and required entry to be passed in the books of the fi rm for distribution of specific reserve or fund?
Answer : If specifi c reserve or funds like Workmen’s Compensation Fund, Investment Fluctuation Fund, etc.
are more in value than the actual liability or if liability does not exist, they should be distributed
among all partners (including the retiring partner) in their old profi t-sharing ratio.
Workmen’ Compensation Fund A/c Dr.
Investment Fluctuation Fund A/c Dr.
To All Partners’ Capital A/cs
(Being excess of funds transferred to Partners’
Capital A/cs in their old ratio)
 
Question : A, B and C share profits in the ratio of 4 : 3: 2. B retires. It is agreed that in future A and C shall share in the ratio of 3 : 2. Calculate the gaining ratio.
Answer : A : C = 7 : 8.
 
Question : P, Q, R and S are partners sharing profits in the ratio of 7 : 5 : 2 : 1. S retires from the firm.
Calculate new ratio after S’s retirement and also gaining ratio.
Answer :  Both New Ratio and Gaining Ratio 7:5:2.
 

 

Question : An existing partner may wish to withdraw from a firm for various reasons.

Question : The amount due to a retiring partner will be the total of :-

a. His capital in the firm

b. His share in firm’s accumulated profits and losses.

c. His share of profit or loss on revaluation of assets and liabilities

d. His share of profits till the date of retirement

e. His remuneration and interest on capital.

f. His share in firm’s goodwill.

3. The ratio in which the continuing (remaining) partners have acquired the share from the outgoing partner is called gaining ratio.

GAIN RATIO = NEW RATIO – OLD RATIO

Question : Share of goodwill of outgoing partner will be debited to gaining partners in their gaining ratio.

i. When goodwill already appear in the books of firm

Old Partners’ capital A/c Dr.

To goodwill A/c

(old profit sharing ratio)

ii. Share of retire partner in goodwill

Gaining partners’ capital A/c Dr.

To Retiring partner’s capital A/c

(Gain Ratio)

Question : At the retirement of a partner Profit & Loss on Revaluation of Assets and liabilities and balances of accumulated Profits and losses will be distributed among all partners (including outgoing partner) in their old ratio. 
 
 

 

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
Part 1 Chapter 02 Reconstitution of a Partnership Firm Admission of a Partner
CBSE Class 12 Accountancy Admission Of Partner Worksheet Set A
CBSE Class 12 Accountancy Admission Of Partner Worksheet Set B
CBSE Class 12 Accountancy Admission Of Partner Worksheet Set C
Part 1 Chapter 03 Reconstitution of a Partnership Firm Retirement/Death of a Partner
CBSE Class 12 Accountancy Retirement And Death Of Partner Worksheet Set A
CBSE Class 12 Accountancy Retirement And Death Of Partner Worksheet Set B
CBSE Class 12 Accountancy Retirement And Death Of Partner Worksheet Set C
CBSE Class 12 Accountancy Retirement And Death Of Partner Worksheet Set D
Part 1 Chapter 04 Dissolution of Partnership Firm
CBSE Class 12 Accountancy Dissolution Of Partnership Firm Worksheet Set A
CBSE Class 12 Accountancy Dissolution Of Partnership Firm Worksheet Set B
Part 2 Chapter 01 Accounting for Share Capital
CBSE Class 12 Accountancy Share Capital Worksheet Set A
CBSE Class 12 Accountancy Share Capital Worksheet Set B
CBSE Class 12 Accountancy Share Capital Worksheet Set C
Part 2 Chapter 02 Issue and Redemption of Debentures
CBSE Class 12 Accountancy Debentures Worksheet
Part 2 Chapter 03 Financial Statements of a Company
CBSE Class 12 Accountancy Financial Statements Of Company Worksheet
CBSE Class 12 Accountancy Financial Statements Of Company Worksheet Set B
Part 2 Chapter 04 Analysis of Financial Statements
CBSE Class 12 Accountancy Financial Analysis And Tools For Financial Analysis Worksheet
CBSE Class 12 Accountancy Financial Analysis And Tools For Financial 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
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
z More Worksheets for Class 12 Accountancy
CBSE Class 12 Accountancy Case Studies
CBSE Class 12 Accountancy Goodwill Nature And Valuation Worksheet
CBSE Class 12 Accountancy Revision Worksheet
CBSE Class 12 Accountancy Sure Shot Questions Worksheet Set A
CBSE Class 12 Accountancy Sure Shot Questions Worksheet Set B
~ Class 12 Accountancy (Old Chapters)
CBSE Class 12 Accountancy Accounting for Not for Profit Organisation Worksheet

Important Practice Resources for Class 12 Accountancy

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

Students can use the practice questions and answers provided above for Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner to prepare for their upcoming school tests. This resource is designed by expert teachers as per the latest 2026 syllabus released by CBSE for Class 12. We suggest that Class 12 students solve these questions daily for a strong foundation in Accountancy.

Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner Solutions & NCERT Alignment

Our expert teachers have referred to the latest NCERT book for Class 12 Accountancy to create these exercises. After solving the questions you should compare your answers with our detailed solutions as they have been designed by expert teachers. You will understand the correct way to write answers for the CBSE exams. You can also see above MCQ questions for Accountancy to cover every important topic in the chapter.

Class 12 Exam Preparation Strategy

Regular practice of this Class 12 Accountancy study material helps you to be familiar with the most regularly asked exam topics. If you find any topic in Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner difficult then you can refer to our NCERT solutions for Class 12 Accountancy. All revision sheets and printable assignments on studiestoday.com are free and updated to help students get better scores in their school examinations.

Where can I download the 2025-26 CBSE printable worksheets for Class 12 Accountancy Chapter Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner?

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Are these Chapter Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner Accountancy worksheets based on the new competency-based education (CBE) model?

Yes, Class 12 Accountancy worksheets for Chapter Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner focus on activity-based learning and also competency-style questions. This helps students to apply theoretical knowledge to practical scenarios.

Do the Class 12 Accountancy Chapter Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner worksheets have answers?

Yes, we have provided solved worksheets for Class 12 Accountancy Chapter Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner to help students verify their answers instantly.

Can I print these Chapter Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner Accountancy test sheets?

Yes, our Class 12 Accountancy test sheets are mobile-friendly PDFs and can be printed by teachers for classroom.

What is the benefit of solving chapter-wise worksheets for Accountancy Class 12 Chapter Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner?

For Chapter Part 1 Chapter 3 Reconstitution of a Partnership Firm Retirement/Death of a Partner, regular practice with our worksheets will improve question-handling speed and help students understand all technical terms and diagrams.