Question : What happens to accumulated earnings and losses when a partner retires?

Option 1: Debited to all partner’s capital accounts in old ratio.

Option 2: Credited to all partner’s capital accounts in old ratio.

Option 3: Credited to remaining partner’s capital accounts in new ratio.

Option 4: Credited to remaining partner’s capital accounts in gaining ratio.

Question : Reserves, Accumulated (Undistributed) Profits And Losses will be 

Option 1: Distributed in remaining partner’s capital account

Option 2: Distributed among all partner’s capital account in old ratio

Option 3: Distributed among all partner’s capital account in New profit sharing ratio

Option 4: Distributed among old partners capital account in gaining ratio 

Question : Reserves, Accumulated (Undistributed) Profits And Losses will be 

Option 1: Distributed in remaining partner’s capital account

Option 2: Distributed among all partner’s capital account in old ratio

Option 3: Distributed among all partner’s capital account in New profit sharing ratio

Option 4: Distributed among old partners capital account in gaining ratio 

Question : How is goodwill recorded when a partner retires?

Option 1: Remaining Partner’s Capital A/cs Dr. (In Gaining Ratio)

 To Retiring Partner’s Capital A/c (with his share of goodwill)

Option 2: Remaining Partner’s Capital A/cs Dr. (In New Ratio)

To Retiring Partner’s Capital A/c (with his share of goodwill)

Option 3: Goodwill A/c          Dr.

To Retiring Partner’s Capital A/c (with his share)

Option 4: Goodwill A/c              Dr.

To All Partner’s Capital A/cs (In Old Ratio)

Question :

Accumulated losses on the retirement of a partner are

Option 1:

credited to all Partners’ Capital Accounts in old profit-sharing ratio.

Option 2:

debited to all Partners’ Capital Accounts in the old profit-sharing ratio.

Option 3: credited to remaining Partners’ Capital Accounts in new profit-sharing ratio.

Option 4: credited to remaining Partners’ Capital Accounts in gaining ratio.