On the retirement of a partner how is the profit-sharing ratio of remaining partners decided? Post category:Accountancy Reading time:1 mins read SOLUTION Profit sharing ratio of remaining partners is decided according to the mutual agreement among the remaining partners. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostCan a retiring partner or Legal Representatives of a Deceased Partner claim a share in the subsequent profits of the firm. Next PostAt the time of retirement of a partner, state the condition when there is no need to compute the gaining ratio. You Might Also Like Rajesh and Ravi are partners sharing profits in the ratio of 3 : 2. Their Balance Sheet at 31st March, 2019 stood as: August 1, 2022 The Hindustan Manufacturing Ltd. had a total subscribed capital of Rs. 10,00,000 in Equity Shares of Rs. 10 each of which Rs. 7.50 were called-up. A final call of Rs. 2.50 was made and all amount paid except two calls of Rs. 2.50 each in respect of 100 shares held by D. These shares were forfeited and reissued at Rs. 8 per share. Pass necessary journal entries (including that of cash) to record the transactions of final call, forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company. July 14, 2022 What is meant by ‘issue of shares at par’? (C.B.S.E. 2019. C) September 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Rajesh and Ravi are partners sharing profits in the ratio of 3 : 2. Their Balance Sheet at 31st March, 2019 stood as: August 1, 2022
The Hindustan Manufacturing Ltd. had a total subscribed capital of Rs. 10,00,000 in Equity Shares of Rs. 10 each of which Rs. 7.50 were called-up. A final call of Rs. 2.50 was made and all amount paid except two calls of Rs. 2.50 each in respect of 100 shares held by D. These shares were forfeited and reissued at Rs. 8 per share. Pass necessary journal entries (including that of cash) to record the transactions of final call, forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company. July 14, 2022