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Reconstitution of Partnership : Death of a Partner — Formula Sheet

ICSE · Class 12 · Accountancy

5 formulas from Reconstitution of Partnership : Death of a Partner (ICSE Class 12 Accountancy) on one page, grouped by topic.

42 questions32 flashcards5 formulas & key relations5 concepts

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5 Entries · 2 Sections

Formulas and Key Relations

Calculation of Deceased Partner's Share of Profit

Deceased Partner's share of profit = Last year's profit / Average of Profit × (Time till date of death / 12 or 365) × Share of Deceased Partner

Deceased partner's share of profit = (Last year's profit / Last year's sales) × Sales till date of death × Share of deceased partner

Average Profit = Total Profits ÷ No. of years

Value of goodwill = Weighted Average Profit × Number of years' purchase

Accounting Treatment of Profit and Goodwill

Gaining ratio = New ratio - Old ratio

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Frequently Asked Questions

What are the important topics in Reconstitution of Partnership : Death of a Partner for ICSE Class 12 Accountancy?
Key topics in Reconstitution of Partnership : Death of a Partner include Meaning and effect of death of a partner, Difference between retirement and death of a partner, Calculation of deceased partner's share of profit upto date of death, Accounting treatment of deceased partner's share of profit. Study these first, then practise questions on each for the ICSE Class 12 board exam.
How many formulas are in Reconstitution of Partnership : Death of a Partner?
This sheet lists 5 formulas from Reconstitution of Partnership : Death of a Partner, grouped by topic. Learn what each symbol stands for so you can apply the formula, not just recall it.
How should I revise Reconstitution of Partnership : Death of a Partner for the ICSE Class 12 board exam?
Learn the core ideas first, then work through the 42 practice questions on Reconstitution of Partnership : Death of a Partner. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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All ICSE Class 12 Accountancy Formula Sheet

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