Give two circumstances in which the Gaining Ratio is computed. Post category:Accountancy Reading time:1 mins read SOLUTION (i) When a partner retires or dies.(ii) When there is a change in the profit-sharing ratio. 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 PostGive the formula for calculating ‘gaining share’ of a partner in a partnership firm. Next PostA, B and C were partners in a firm sharing profits and losses in the ratio of 4: 3: 2. B retired and his share was taken over by A and C equally. Calculate the gaining ratio. (C.B.S.E. 2019) You Might Also Like X and Y are partners sharing profits in the ratio of 3: 2 with capitals of Rs. 8,00,000 and Rs. 6,00,000 respectively. Interest on capital is agreed @ 5% p.a. Y is to be allowed an annual salary of Rs. 60,000 which has not been withdrawn. Profit for the year ended 31st March, 2019 before interest on capital but after charging Y’s salary amounted to Rs. 2,40,000. A provision of 5% of the profit is to be made in respect commission to the manager. Prepare an account showing the allocation profits. July 20, 2022 Jamuna, Ganga and Krishna are partners in a firm. Krishna retired from the firm. After making adjustments for Reserves and Revaluation of Assets and Liabilities, the balance in Krishna’s capital account was Rs. 1,20,000. Jamuna and Ganga paid Rs. 1,80,000 in full settlement to Krishna. Identify the item for which Jamuna and Ganga paid Rs. 60.000 more to Krishna. September 27, 2022 State which of the following would result in inflow / outflow or no flow of Cash and Cash Equivalents: (a) Sale of Fixed Assets, Book Value Rs. 1,00,000 at a profit of Rs. 10,000. (b) Sale of goods against cash. (c) Purchase of machinery for cash. (d) Purchase of Land and Building for Rs. 10,00,000. Consideration paid by issue of debentures. (e) Issued fully paid Bonus Shares. (f) Cash withdrawn from bank. (g) Payment of Interim Dividend. (h) Proposed Dividend. August 18, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X and Y are partners sharing profits in the ratio of 3: 2 with capitals of Rs. 8,00,000 and Rs. 6,00,000 respectively. Interest on capital is agreed @ 5% p.a. Y is to be allowed an annual salary of Rs. 60,000 which has not been withdrawn. Profit for the year ended 31st March, 2019 before interest on capital but after charging Y’s salary amounted to Rs. 2,40,000. A provision of 5% of the profit is to be made in respect commission to the manager. Prepare an account showing the allocation profits. July 20, 2022
Jamuna, Ganga and Krishna are partners in a firm. Krishna retired from the firm. After making adjustments for Reserves and Revaluation of Assets and Liabilities, the balance in Krishna’s capital account was Rs. 1,20,000. Jamuna and Ganga paid Rs. 1,80,000 in full settlement to Krishna. Identify the item for which Jamuna and Ganga paid Rs. 60.000 more to Krishna. September 27, 2022
State which of the following would result in inflow / outflow or no flow of Cash and Cash Equivalents: (a) Sale of Fixed Assets, Book Value Rs. 1,00,000 at a profit of Rs. 10,000. (b) Sale of goods against cash. (c) Purchase of machinery for cash. (d) Purchase of Land and Building for Rs. 10,00,000. Consideration paid by issue of debentures. (e) Issued fully paid Bonus Shares. (f) Cash withdrawn from bank. (g) Payment of Interim Dividend. (h) Proposed Dividend. August 18, 2022