When a partner withdraws his capital from the partnership firm, it is called
of a partner.
on the retirement or death of a partner.
If remaining partners want to continue the business, they should for new
Amount payable to the retieing partner is the
of the firm, which will be paid in full or in
At the time of retirement/death, income sharing ratio among the remaining partners
Intangible assets which are not shown in the balance sheet results in an
in the out going proprietorship.
Amount due to retiring partner reduces due to the
Goodwill will be debited with the agreed value
already shown in the books.
Goodwill may be
if all the partners are agreed, that it should not remain in the books.
The payment made to the retiring partner in instalments is known as