Retirement Of A Existing Partner

Retirement Of A Partner

Change In The Profit Sharing Ratio Among The Existing Partners

Any change in the relationship of existing partners which results in an end of the existing agreement and enforces making of a new agreement is called

How will you deal with goodwill when there is change in the profit sharing ratio among the existing partner? Illustrate with the help of imaginary figures.

How will you deal with reserves and and accumulated profits at the time of change in the profit sharing ratio among the existing partners ?

Is it necessary to revalue the assets and liabilities if there is a change in profit sharing ratio of the existing partners ? Give reason.