Write the various matters that need adjustments at the time of retirement of a partners.

Explanation

The following ar the assorted matters that require to be adjusted at the time of retirement of partners/partners.

1. Calculation of latest gaining magnitude relation of all the remaining partners of the firm.

2. Calculation of the latest magnitude relation of the remaining partners of the firm.

3. Calculation of goodwill of the new firm and its accounting treatment.

4. reassessment of assets and liabilities of the new firm.

5. Distribution of accumulated profits and losses and reserves among all the partners (including the retiring partner).


6. Treatment of Joint Life Policy
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