Accumulated Profits and Losses on Retirement and Death of Partner
(i) Distribution of Accumulated Profits, Reserves and Specific Funds:
General reserve/ Reserve Fund/ Profit & Loss A/c Dr.
To All Partner's Capital A/c (including retiring/deceased partner in old ratio)
(ii) Distribution of specific funds:
Workman's Compensation Fund /Investment Fluctuation Fund / Contingency Reserve A/c Dr.
To All Partner's Capital A/c (including retiring/deceased partner in old ratio)