14 Dec 2020 7:08 am
Balbharati, Solutions, for, Book-keeping, and, Accountancy, 12th, Standard, HSC, Maharashtra, State, Board,
Fill in the blank and rewrite the following sentence,
1. New Ratio (less) Old ratio = Gain ratio
2. Retiring Partner’s share of goodwill is debited to the remaining partner’s capital account.
3. Revaluation A/c is also known as Profit and Loss Adjustment account.
4. On retirement, the balance at a current Account of a partner is transferred to his Capital account.
5. A proportion in which the continuing partners get the share of retiring partner is known as Gain ratio