Top 5 Videos on Reconstitution of a Partnership Firm: Retirement/Death of a Partner for Class 12 Accountancy by PW

A partner’s retirement or death affects more than the composition of a partnership firm. You may need to calculate a new profit-sharing ratio, adjust goodwill, distribute reserves, revalue assets and liabilities, and settle the outgoing or deceased partner’s dues. Since these adjustments often appear together in numerical questions, understanding their order and accounting treatment is essential for Class 12 Accountancy.

PW’s YouTube lessons approach the chapter through different learning needs, from complete one-shot explanations to worked examples, quick revision, and Previous Year Questions (PYQs). Whether you are learning the accounting treatment for the first time or checking your preparation before an examination, these five videos offer different ways to revisit the concepts and practise applying them.

Video 1: Understand Every Major Adjustment in Retirement of a Partner in One Go

This full-chapter one-shot covers the meaning and effects of retirement, new profit-sharing and gaining ratios, goodwill and hidden goodwill, reserves, accumulated profits and losses, and the revaluation of assets and liabilities. It also explains Workmen Compensation Reserve, Investment Fluctuation Reserve, the amount due to the retiring partner, loan treatment, interest, payment through instalments, and capital adjustment, with worked examples and longer numerical problems.

Watch this lecture when you need to bring the entire retirement chapter together rather than revise individual adjustments separately. Following the examples can help you understand how the different entries affect partners’ capital accounts and how to approach questions involving the settlement of a retiring partner’s dues.

Video 2: Understand Death of a Partner With Interim Profit Calculations and Journal Entries

This one-shot lesson explains the accounting treatment required when a partner dies. Topics include capital adjustment, the deceased partner’s share of profit for the interim period, goodwill, reserves, revaluation of assets and liabilities, and the related journal entries. It also covers the deceased partner’s capital account, the final amount payable, the executor’s account, payment, and interest calculations before wrapping up the chapter.

Choose this video when you need to understand how the firm calculates and settles the amount due to a deceased partner. The explanations can help you connect the adjustments with the entries required in numerical questions, particularly those involving profit up to the date of death and the executor’s account.

Video 3: Practise Retirement Numericals With Three Solved Illustrations

This retirement-focused one-shot revisits the key accounting adjustments involved in reconstitution. It covers the meaning of retirement, new profit-sharing, sacrificing and gaining ratios, goodwill and hidden goodwill, reserves, accumulated profits and losses, revaluation, settlement of dues, partners’ capital accounts, and capital adjustment. Three illustrations demonstrate the application of these concepts before a chapter summary and final revision.

If you understand the terminology but find it difficult to combine several adjustments in one question, this lesson offers a useful opportunity to practise. Pay attention to how each illustration applies the accounting treatment and carries the effects through the relevant accounts before moving to the next step.

                          Also Read: Class 12 Economics Notes 2026-27

Video 4: Revise Retirement and Death Adjustments Before Board Exams

This combined revision lesson brings retirement and death of a partner into one exam-focused session. It revisits gaining and new profit-sharing ratios, Workmen's Compensation Reserve, goodwill adjustment and write-off, and profit calculation for a deceased partner using time and sales bases. The session also includes revaluation involving an unrecorded asset, capital adjustment, and the executor’s loan account, with numerical examples to reinforce the accounting treatment.

Use this video after completing the individual topics or when you have limited time for a final revision. Comparing the two situations in one session can help you recall which adjustments are common to both and which require separate treatment, especially when solving board-style numerical questions.

Video 5: Test Your Preparation With Retirement and Death of a Partner PYQs

This PYQ session focuses on practising previous year questions related to retirement and death of a partner. The lesson connects these questions with goodwill, revaluation, partnership accounts, and the broader topic of firm reconstitution. Working through past questions allows you to apply the accounting treatment to exam-style problems rather than relying only on concept revision.

Keep this video for practice after revising the chapter’s core concepts and journal entries. Attempt each question before following the explanation, then check whether you selected the correct treatment and completed the necessary calculations. This approach can help you identify gaps in your preparation and become more familiar with the way these topics are tested in board examinations.

The best way to revise this chapter is to move from understanding the accounting treatment to applying it in numerical questions. Start with the retirement and death one-shots, use the additional retirement lesson to practise illustrations, and revisit both topics through the combined revision session. Finish with the PYQ video to test your understanding and identify adjustments that need more practice. These PW lessons can support your preparation for Class 12 Accountancy, particularly when you need to improve the accuracy of journal entries, calculations, and final accounts.