Commerce > Accountancy Class 12 > Ascertaining the Amount Due to Retiring/Deceased Partner
Ascertaining the Amount Due to Retiring/Deceased Partner Video Lecture - Accountancy Class 12 - Commerce
|
57 videos|105 docs|68 tests
|
FAQs on Ascertaining the Amount Due to Retiring/Deceased Partner Video Lecture - Accountancy Class 12 - Commerce
| 1. How do I calculate the amount due to a retiring or deceased partner in commerce? |  |
Ans. To calculate the amount due to a retiring or deceased partner in commerce, you need to consider several factors. Firstly, determine the partnership agreement or contract to understand the specific terms and conditions regarding the distribution of profits and assets. Secondly, calculate the partner's share in the partnership's net assets by deducting liabilities from the total assets. Finally, consider any additional factors mentioned in the agreement, such as goodwill valuation or interest on capital, to arrive at the final amount due to the retiring or deceased partner.
| 2. What happens to the partner's share in the partnership after retirement or death in commerce? | |
Ans. After the retirement or death of a partner in commerce, the partner's share in the partnership is typically transferred to the remaining partners, as specified in the partnership agreement. The remaining partners usually have the option to purchase the retiring or deceased partner's share in the partnership by paying the calculated amount due. Alternatively, the partnership agreement may allow for the admission of a new partner who will acquire the share or for the dissolution of the partnership and the distribution of assets among the partners.
| 3. Are there any legal requirements for determining the amount due to a retiring or deceased partner in commerce? | |
Ans. Yes, there are legal requirements that may need to be considered when determining the amount due to a retiring or deceased partner in commerce. These requirements may vary depending on the jurisdiction and the specific provisions of the partnership agreement. It is advisable to consult with a legal professional who specializes in partnership law to ensure compliance with applicable regulations and to protect the rights and interests of all parties involved.
| 4. What is the significance of goodwill valuation in determining the amount due to a retiring or deceased partner in commerce? | |
Ans. Goodwill valuation plays a crucial role in determining the amount due to a retiring or deceased partner in commerce. Goodwill represents the intangible value of a partnership's reputation, customer base, and other factors that contribute to its profitability. If the partnership agreement includes provisions for goodwill valuation, it helps in determining the fair value of the partnership's assets and the retiring or deceased partner's share. This valuation ensures a fair distribution of assets and helps maintain the financial stability of the partnership.
| 5. Can the amount due to a retiring or deceased partner in commerce be paid in installments? | |
Ans. Whether the amount due to a retiring or deceased partner in commerce can be paid in installments depends on the partnership agreement and the mutual agreement between the parties involved. While some agreements may allow for installment payments, others may require a lump-sum payment. It is essential to review the partnership agreement and discuss the payment terms with all relevant parties to determine if installment payments are permissible and feasible.
About this Video
|
1.9K Views |
|
4.98/5 Rating |
|
Nipun Tuteja |
Video Description: Ascertaining the Amount Due to Retiring/Deceased Partner for Commerce 2023 is part of Accountancy Class 12 preparation.
The notes and questions for Ascertaining the Amount Due to Retiring/Deceased Partner have been prepared according to the Commerce exam syllabus.
Information about Ascertaining the Amount Due to Retiring/Deceased Partner covers all important topics for Commerce 2023 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Ascertaining the Amount Due to Retiring/Deceased Partner.
Introduction of Ascertaining the Amount Due to Retiring/Deceased Partner in English is available as part of our Accountancy Class 12 for Commerce & Ascertaining the Amount Due to Retiring/Deceased Partner in
Hindi for Accountancy Class 12 course. Download more important topics related with notes, lectures and mock test series for
Commerce Exam by signing up for free.
Description
Video Lecture & Questions for Ascertaining the Amount Due to Retiring/Deceased Partner Video Lecture | Accountancy Class 12 - Commerce - Commerce full syllabus preparation | Free video for Commerce exam to prepare for Accountancy Class 12.
Information about Ascertaining the Amount Due to Retiring/Deceased Partner
Here you can find the meaning of Ascertaining the Amount Due to Retiring/Deceased Partner defined & explained in the simplest way possible.
Besides explaining types of Ascertaining the Amount Due to Retiring/Deceased Partner theory, EduRev gives you an ample number of questions to practice Ascertaining the Amount Due to Retiring/Deceased Partner tests,
examples and also practice Commerce tests.
|
57 videos|105 docs|68 tests
|
Up next
|
Explore Courses for Commerce exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Download free EduRev App
Track your progress, build streaks, highlight & save important lessons and more!
Related Searches
Ascertaining the Amount Due to Retiring/Deceased Partner Video Lecture | Accountancy Class 12 - Commerce
,Semester Notes
,video lectures
,Ascertaining the Amount Due to Retiring/Deceased Partner Video Lecture | Accountancy Class 12 - Commerce
,Viva Questions
,mock tests for examination
,Free
,MCQs
,Exam
,Important questions
,shortcuts and tricks
,practice quizzes
,Ascertaining the Amount Due to Retiring/Deceased Partner Video Lecture | Accountancy Class 12 - Commerce
,past year papers
,ppt
,Objective type Questions
,study material
,Extra Questions
,Previous Year Questions with Solutions
,Summary
,Sample Paper
;
Study Ascertaining the Amount Due to Retiring/Deceased Partner on the App
Students of Commerce can study Ascertaining the Amount Due to Retiring/Deceased Partner alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Ascertaining the Amount Due to Retiring/Deceased Partner,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Ascertaining the Amount Due to Retiring/Deceased Partner is prepared as per the latest Commerce syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup
