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Video tutorials - H.S.C Book Keeping and Accountancy: Reconstitution of Partnership (Maharashtra State Board of Secondary and Higher Secondary Education (MSBSHSE))

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We have provided more than 1 series of video tutorials for some topics to help you get a better understanding of the topic.

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shaalaa.com | Partnership Admission

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Partnership Admission [01:18:20]
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Reconstitution of Partnership
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Description

1. Meaning and different ways of reconstitution

2. Admission of a partner

  • Meaning and Need
  • Capital brought by new partner
  • New profit sharing ratio
  • Sacrifice ratio
  • Goodwill - Meaning, Methods of valuation and treatment of goodwill. i) Average profit method ii) Super profit method
  • Adjustment of accumulated profits and losses.
  • Revaluation of assets and liabilities
  • Adjustment of capitals

3. Retirement / Death of a partner

  • Meaning, need
  • New ratio
  • Gain ratio
  • Treatment of goodwill
  • Adjustment of accumulated profits and lossess
  • Revaluation of assets and liabilities
  • Adjustment of capital
  • Amount due to retiring parter
  • Death of partner
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