Retirement or Death of a Partner – Q & A

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on August 11, 2021

1. Describe the procedure to be followed at the time of retirement of a partner.

2. What types of matters are to be decided at the time of retirement?

3. How to ascertain the amount due to the retiring partner?

4. What journal entry for transfer of gerneral reserve will be passed at the time or retirement?

5. What do you mean by gaining ratio?

6. How to calculate gaining ratio?

7. Define surrender value.

8. On the retirement of a partner, how the value of goodwill be determined?

9. At the time of retirement, who pay the bonus?

10. When goodwill method is used to determine value of goodwill under goodwill method?

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True contributes to his own finance dictionary, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, his interview on CBS, or check out his speaker profile on the CFA Institute website.

4 thoughts on “Retirement or Death of a Partner – Q & A”

  1. Hello,
    please could you send me any sources which help me to teach any model in accounting, or any eBooks which help me in my field. I really appreciate that.
    Kind Regards,
    Hadi

    Reply

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