Give the formula for calculating ‘gaining share’ of a partner in a partnership firm. Post category:Accountancy Reading time:1 mins read SOLUTION Gaining Share = New Profit Share- Old Profit Share. 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 PostWhy do we calculate Gaining Ratio? Next PostGive two circumstances in which the Gaining Ratio is computed. You Might Also Like Revenue from Operations Rs. 4,00,000; Gross Profit Ratio 25%; Operating Ratio 90%. Non-operating Expenses Rs. 2,000; Non-operating Income Rs. 22,000. Calculate Net Profit Ratio. August 17, 2022 Give two examples of Cash Flows from Investing Activities. October 4, 2022 P, Q, R and S were partners in a firm sharing profits in the ratio of 5 : 3 : 1 : 1. On 1st January, 2019, S retired from the firm. On S’s retirement, goodwill of the firm was valued at Rs. 4,20,000. New profit-sharing ratio among P, Q and R will be 4 : 3 : 3. Showing your working notes clearly, pass necessary Journal entry for the treatment of goodwill in the books of the firm on S’s retirement. August 3, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Revenue from Operations Rs. 4,00,000; Gross Profit Ratio 25%; Operating Ratio 90%. Non-operating Expenses Rs. 2,000; Non-operating Income Rs. 22,000. Calculate Net Profit Ratio. August 17, 2022
P, Q, R and S were partners in a firm sharing profits in the ratio of 5 : 3 : 1 : 1. On 1st January, 2019, S retired from the firm. On S’s retirement, goodwill of the firm was valued at Rs. 4,20,000. New profit-sharing ratio among P, Q and R will be 4 : 3 : 3. Showing your working notes clearly, pass necessary Journal entry for the treatment of goodwill in the books of the firm on S’s retirement. August 3, 2022