Section A 1. Explain in detail, the accounting treatment of death of a partner in a partnership firm with example. (10 Marks) Section B 2. Mr. Khalid and Mr. Ahmed are partners of a partnership, sharing profits and losses in the ratio of 2:1. They decided to admit Mr.Rikatz as a new partner to the partnership firm for 1/4th share. Assess the impact of admitting a new partner to a partnership firm in the accounting point of view. (10 Marks) 3. Mr. Farhan, plans to join as a partner to a partnership firm. Somebody told him that if he wants to become to a partner to a partnership firm, he is required to pay some additional amount other than the amount of capital to get a right to share the future profits of the partnership firm. Mr. Farhan now wants to have complete information on such payments, right from its meaning and explanation, the methods for calculation, its accounting treatments in every situation of a partnership firm including death of a partner. Prepare your answer in such a way that Mr. Farhan can be provided adequate information on the given context with examples. (10 Marks)