In the event of death of partner, the amount of General Reserve is transferred to partner's capital Accounts in ______________ .

For the intervening period in the books of account, ______________ A/c will be debited for deceased partner's share of profits.

If the firm has sufficient cash to pay off the amount due to the deceased partner, it can pay the amount immediately, this is known as ___________.

On retirement of a partner which account is not prepared:

In which of the following events public notice is not required?

Select the false statement.

Death of a partner has the effect of _________.

All of the following except one is the method of recording joint life policy ______________.

In the absence of a partnership deed, the allowable rate of interest on a partners loan account will be:

On the death of a partner, the amount of Join Life Policy is credited to the Capital Account of _____________.

R, J & D are the partners sharing profits in the ratio $7 : 5 : 5$. D died on $30$th June $2015$. Profit for the accounting year $2014-2015$ was $Rs.24,000$. How much share in profits for the period $1st$ April, $2015$ to $30$th June, $2015$ will be credited to D's A/c?

In the absence of proper agreement, representative of the deceased partner is entitled to the dead partner's share in ____________.

A partner retires but the business is still being carried on 

Choose the correct answers from the alternatives given.
Public notice of retirement must be given ________. 

Choose the correct answers from the alternatives given.
A partner may retire from an existing firm ________. 

Choose the correct answers from the alternatives given.
In case of death of a partner ________. 

Choose the correct answers from the alternatives given.
A partner can retire on __________. 

Choose the correct answers from the alternatives given.
In case of a partnership at will, a partner may retire by giving ________. 

Choose the correct answers from the alternatives given.
The heir of the deceased partner _______. 

A,B and C ate three partners in a partnership firm sharing profit and loss equally. C retires from the firm on 31st March.His share of profit is purchased by A and B in the ratio of 2:1,If  at the time of retirement of the value of the goodwill of the firm is valued at Rs.54,000, and the partners decides to pay goodwill to the retiring partner, what will be accounting treatment? 

When the Joint Life Insurance Policy premium is treated as expenses,the amount reserved on death of the partner is transferred to _________. 

Which of these statements is true?

R, J & D are the partners sharing profits in the ratio $7 : 5 : 5$ D died on $30$th June $2015$. It was decided to value the good will on the basis of $3$ year's purchase of last $5$ years average profits. If the profits are $Rs.29,600$; $Rs.28,700$; $Rs.28,900$; $Rs.24,000$ & $Rs.26,800$. What will be D's share of good will?

On the death of a partner, his executor is paid the share of profits of the died partner for the relevant period. This payment is recorded in Profit & Loss _______ A/c

A, B & C takes a joint life policy, after 5 years, B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A & C decides to share profits equally. They had taken a joint life policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partners' capital account on receiving the JLP amount if joint life policy is maintained at the surrender value? 

A, B & C takes a joint life policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A & C decides to share profits equally. They had taken a joint life policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partner's capital account on receiving the JLP amount if joint life policy is maintained at surrender value along with the reserve?

Balances of R,H & M sharing profits & losses in the ratio 2:3:2 stood as Rs. 10,00,000; H - Rs. 15,00,000; M - Rs. 10,00,000; Joint Life Policy Rs. 3,50,000. H desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2. Joint life policy of the partners surrendered and cash obtained Rs. 3,50,000. What would be the treatment for JLP A/c?

A, B & C were partners sharing profits and losses in the ratio of 3:2:1. A retired and firm received the joint life policy as Rs. 7,500 appearing in the balance sheet at Rs. 10,000. JLP is credited and cash debited with Rs. 7,500, what will be the treatment for the balance in Joint Life Policy?

Balances of $R _{1}, R _{2}$ & $R _{3}$ sharing profits & losses in proportion to their capitals, stood as:
$R _{1} = Rs. 3,00,000$
$R _{2} = Rs. 2,00,000$
$R _{3} = Rs. 1,00,000$
$R _{1}$ desired to retire from the firm and the remaining partners decided to carry on, joint life policy of the partners surrendered and cash obtained Rs. 60,000. What will be the treatment for Joint Life Policy A/c? 

If one of the partner of a partnership firm comprising 2 partners dies, then _________.

Choose the correct answers from the alternatives given.
For firms acts after retirement, a retiring partner ________. 

Choose the correct answers from the alternatives given.
Unless otherwise agreed, a retiring partner can _______. 

At the time of death of partner following entries can be made:

A, B & C Care the partners sharing profits and losses in the ratio $2:1:1$. Firm has a joint life policy of $Rs.1,20,000$ and in the balance sheet it is appearing at the surrender value i. e. $Rs.20,000$. On the the death of A, how this JLP will be shared among the partners? 

X & Y are partners sharing profit in the ratio of 3:2. Z was admitted on the following terms:New profit sharing ratio will be 5:3:2 Machinery would be depreciated by $8\%$ (book value Rs. 1,80,000)Building would be appreciated by $15\%$ (book value Rs. 1,50,000)To create provision for bad debts $5\%$ on Debtors of Rs.25,000 Unrecorded debtors of Rs.1,250 would be brought into books Creditors amounting to Rs.2,750 died and need not to pay anything. Find the distribution of profit/loss on revalution between X & Y.    

The executors of the deceased partner are entitled to a share of profit earned by the firm from the date of last balance sheet and to the date of death. Which of the entry will be passed for this purpose?
(Name of the deceased partner was Mr. X) 

R, J & D are the partners sharing profits in the ratio $7:5:4$. D died on $30$th June, $2015$. It was decided to value the goodwill on the basis of $3$ year's purchase of last 5 years average profits. It the profits are $Rs.29,600$; $Rs.28,700$; $Rs.28,900$; $Rs.24,000$ & $Rs.26,800$. What will be D's share of goodwill?

If three partners A, B & C are sharing profits as $5:3:2$, then on the death of a partner A, how much B & C will pay to A's execute on account of goodwill if Goodwill is to be calculated from $2$ years purchase of the last three years average profits. Profits for three years are: $Rs.6,58,000$; $Rs. 6,92,000$ and $Rs.8,10,000$. 

Balance of A,B & C sharing profits & losses in proportion to their capitals, stood as :
A = 2,00,000
B = 3,00,000
C = 2,00,000
Joint Life Policy Reserve A/c 80,000 and Joint Life Policy A/c is shown in the balance sheet 80,000 A desired to retire from the firm and the remaining, partners decided to carry on in equal ratio, joint life policy of the partners surrendered and cash obtained 80,000 What will be the treatment for  joint Life Policy Reserve A/c?

If a partner dies, then JLP will be reckoned at ________.

When the goodwill is raised at its full value and written off at retirement of a partner, the remaining partners share goodwill in _________.

Balances of A, B & C sharing profits & losses in proportion to their capitals, stood as:
A = $Rs.2,00,000$
B = $Rs.3,00,000$
C = $Rs.2,00,000$
Joint Life Policy Reserve A/c $Rs.80,000$ and Joint Life Policy A/c is shown in the balance sheet $Rs.80,000$. A desired to retire from the firm and the remaining partners decided to carry on in equal ratio, joint life policy of the partners surrendered and cash obtained $Rs.80,000$. What will be the treatment for Joint Life Policy Reserve A/c?

The balance of joint life policy account as shown in the balance sheet represent ___________.

B, C, D are partners sharing profits in the ratio $7:5:4$. D died on $30$th June $2006$ and profits for the years $2005-2006$ was $Rs.12,000$. How many shares in profits for the period $1$st April $2006$ to $30$th June $2006$ will be credited to D's accounts?

 If the firm gets dissolved due to the retirement of one the partners then what amount of JLP will be credited in partner's capital A/c?