February 26, 2019

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Retirement and Death of a partner

Cash flow Statements Practice Paper-Accountancy Class XII

                Retirement and Death of a partner

Retirement and Death of a partner

Some assets and liabilities may need revaluation, goodwill is to be treated and amount of joint life policy is distributed and soon accounting adjustment are required to be made. Whenever such events take place, the firm has to calculate the dues of a partner leaving the firm or that of the deceased.

 

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