What treatment is made of accumulated profits and losses on the retirement of a partner?
A. Credited to all partner’s capital accounts in old ratio.
B. Debited to all partner’s capital accounts in old ratio.
C. Credited to remaining partner’s capital accounts in new ratio.
D. Credited to remaining partner’s capital accounts in gaining ratio.
Answer:A
What treatment is made of accumulated profits and losses on the retirement of a partner?
A. Credited to all partner’s capital accounts in old ratio. B. Debited to all partner’s capital accounts in old ratio. C. Credited to remaining partner’s capital accounts in new ratio. D. Credited to remaining partner’s capital accounts in gaining ratio.