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How would you calculate the amount payable to the retiring partner. |
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Answer» please FOLLOW me I hope it will help youMark in brain listExplanation:To FIND out the amount payable to retiring PARTNER, the following items are considered:Balance to his Capital ACCOUNT, as PER last Balance Sheet.Proportionate profit on revaluation.Share of goodwill.Interest on capital up to the date of retirement.Salary, if any, payable to him. |
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