P, Q and R are partners sharing profits in the ratio of 5: 4: 3. Q retires and P and R decide to share future profits equally. What will be the Gaining Ratio? Post category:Accountancy Reading time:1 mins read SOLUTION 1. 3 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 PostA, B and C are partners sharing profits in the ratio of 5: 2: 1. If the new ratio on the retirement of C is 5: 2, what will be the gaining ratio? Next PostP, Q and R share profits in the ratio of 5: 4: 3. R retires and the new ratio is 5: 3. If is given Rs. 6,000 as goodwill, what will be the journal entry? You Might Also Like X, Y and Z entered into partnership on 1st October, 2018 to share profits in the ratio of 4 : 3 : 3. X, personally guaranteed that Z’s share of profit after charging interest on capital @ 10% p.a. would not be less then Rs. 80,000 in any year. Capital contributions were: X – Rs. 3,00,000, Y – Rs. 2,00,000 and Z – Rs. 1,50,000. Profit for the year ended 31st March, 2019 was Rs. 1,60,000. Prepare Profit and Loss Appropriation Account. July 22, 2022 Calculate Cash Flow from Investing Activities from the following information: August 18, 2022 Can ‘Securities Premium Reserve’ be used as working capital? Give reason in support of your answer. September 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X, Y and Z entered into partnership on 1st October, 2018 to share profits in the ratio of 4 : 3 : 3. X, personally guaranteed that Z’s share of profit after charging interest on capital @ 10% p.a. would not be less then Rs. 80,000 in any year. Capital contributions were: X – Rs. 3,00,000, Y – Rs. 2,00,000 and Z – Rs. 1,50,000. Profit for the year ended 31st March, 2019 was Rs. 1,60,000. Prepare Profit and Loss Appropriation Account. July 22, 2022
Can ‘Securities Premium Reserve’ be used as working capital? Give reason in support of your answer. September 28, 2022
