Match the accounting adjustment required on the retirement or death of a partner with its purpose or treatment:
| List I (Adjustment) | List II (Purpose/Treatment) | ||
| A | Revaluation of Assets and Liabilities | i | Belong to all partners and should be transferred to capital accounts in their old profit sharing ratio |
| B | Treatment of Goodwill (existing in books) | ii | Ascertain net gain/loss and the same is transferred to the capital account of all partners |
| C | Distribution of Accumulated Profits/Losses | iii | Gaining Partner(s) Capital Account(s) Dr. to Retiring/Deceased Partner’s Capital Account |
| D | Treatment of Goodwill (not existing in books) | iv | Written off by debiting all partners’ capital account in their old profit sharing ratio |
1
A-(ii), B-(iv), C-(i), D-(iii)
2
A-(ii), B-(i), C-(iv), D-(iii)
3
A-(iv), B-(ii), C-(i), D-(iii)
4
A-(i), B-(iv), C-(ii), D-(iii)