Of liabilities, adjustment of accumulated profits and reserves, adjustment of capital accounts and preparation of balance sheet. Retirement and death of a partner: effect of retirement / death of a partner on change in profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment.Treatment of reserves and accumulated profits, adjustment of capital accounts and preparation of balance sheet. Admission of a partner – effect of admission of a partner on change in the profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities,.Preparation of revaluation account and balance sheet.
Accounting for Partnership firms – Reconstitution and Dissolution.
