PPT : Retirement of Partner CA Foundation Notes | EduRev

Fundamentals of Accounting for CA CPT

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CA Foundation : PPT : Retirement of Partner CA Foundation Notes | EduRev

 Page 1


Partnership Accounts  
(Retirement of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit 4 
Prof. Deepak Jaggi 
Page 2


Partnership Accounts  
(Retirement of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit 4 
Prof. Deepak Jaggi 
Learning Objectives 
 
(1) Understand the role of retiring partner in  
the obligations of the firm. 
(2) Logic of treatment of Reserves  and Debit 
Balances in case of retirement of partner. 
(3) Techniques of arriving at the various 
Ratio’s. 
(4) Understand the Goodwill adjustment. 
(5) To Lay a solid foundation of accounting 
treatment in case of retirement of partner. 
Page 3


Partnership Accounts  
(Retirement of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit 4 
Prof. Deepak Jaggi 
Learning Objectives 
 
(1) Understand the role of retiring partner in  
the obligations of the firm. 
(2) Logic of treatment of Reserves  and Debit 
Balances in case of retirement of partner. 
(3) Techniques of arriving at the various 
Ratio’s. 
(4) Understand the Goodwill adjustment. 
(5) To Lay a solid foundation of accounting 
treatment in case of retirement of partner. 
PARTNERSHIP ACCOUNTS 
(Retirement of a Partner) 
A partner who retires from the existing partnership 
firm is known as a retiring partner 
A partner who retires will be called as outgoing 
partner 
Page 4


Partnership Accounts  
(Retirement of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit 4 
Prof. Deepak Jaggi 
Learning Objectives 
 
(1) Understand the role of retiring partner in  
the obligations of the firm. 
(2) Logic of treatment of Reserves  and Debit 
Balances in case of retirement of partner. 
(3) Techniques of arriving at the various 
Ratio’s. 
(4) Understand the Goodwill adjustment. 
(5) To Lay a solid foundation of accounting 
treatment in case of retirement of partner. 
PARTNERSHIP ACCOUNTS 
(Retirement of a Partner) 
A partner who retires from the existing partnership 
firm is known as a retiring partner 
A partner who retires will be called as outgoing 
partner 
Conti.. 
(Retirement of a Partner) 
A partner may retire from the business due to one or more of the following 
reasons: 
Old age  or Health  problems of the partner 
Better Opportunity 
Difference of opinion among partners 
Page 5


Partnership Accounts  
(Retirement of a Partner) 
CPT Section A Fundamentals of Accountancy Chapter 8 Unit 4 
Prof. Deepak Jaggi 
Learning Objectives 
 
(1) Understand the role of retiring partner in  
the obligations of the firm. 
(2) Logic of treatment of Reserves  and Debit 
Balances in case of retirement of partner. 
(3) Techniques of arriving at the various 
Ratio’s. 
(4) Understand the Goodwill adjustment. 
(5) To Lay a solid foundation of accounting 
treatment in case of retirement of partner. 
PARTNERSHIP ACCOUNTS 
(Retirement of a Partner) 
A partner who retires from the existing partnership 
firm is known as a retiring partner 
A partner who retires will be called as outgoing 
partner 
Conti.. 
(Retirement of a Partner) 
A partner may retire from the business due to one or more of the following 
reasons: 
Old age  or Health  problems of the partner 
Better Opportunity 
Difference of opinion among partners 
Accounting Treatment 
Not Same 
• Similar to Admission of Partner 
Information 
given 
• 1. Balance Sheet of Old Firm 
• 2. Adjustments 
To Prepare 
• 1. Revaluation A/c 
• 2. Partner’s Capital A/c 
• 3. Cash /Bank A/c 
• 4. Balance Sheet of a new Firm 
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