In which ratio do the remaining partners acquire the share of profit of the retiring or deceased partner? (C.B.S.E. 2017, 2018 Comptt.) Post category:Accountancy Reading time:1 mins read SOLUTION Remaining partners acquire the share of profit of the retiring partner in Gaining 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 PostAt the time of retirement of a partner, state the condition when there is no need to compute the gaining ratio. Next PostRamesh wants to retire from the firm. The profit on revaluation on that date Was Rs. 12,000. Mohan and Rahul want to share this in their new profit-sharing ratio 3: 2. Ramesh wants this shared equally. How is this profit to be shared? You Might Also Like X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1. On 1st April, 2009, Y retires from the firm. X and Z agree that the capital of the new firm shall be fixed at Rs. 2,10,000 in the profit-sharing ratio. The Capital Accounts of X and Z after all adjustments on the date of retirement showed balance of Rs. 1,45,000 and Rs. 63,000 respectively. State the amount of actual cash to be brought in or to be paid to the partners. August 4, 2022 What is meant by ‘Gaining Ratio’ on retirement of a partner? September 27, 2022 X and Y were partners sharing profits and losses in the ratio of 3 : 2. They decided to dissolve the firm on 31st March, 2019. On that date, their Capitals were X − Rs. 40,000 and Y− Rs. 30,000. Creditors amounted to Rs. 24,000. Assets were realised for Rs. 88,500. Creditors of Rs. 16,000 were taken over by X at Rs. 14,000. Remaining Creditors were paid at Rs. 7,500. The cost of realisation came to Rs. 500. Prepare necessary accounts. July 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1. On 1st April, 2009, Y retires from the firm. X and Z agree that the capital of the new firm shall be fixed at Rs. 2,10,000 in the profit-sharing ratio. The Capital Accounts of X and Z after all adjustments on the date of retirement showed balance of Rs. 1,45,000 and Rs. 63,000 respectively. State the amount of actual cash to be brought in or to be paid to the partners. August 4, 2022
X and Y were partners sharing profits and losses in the ratio of 3 : 2. They decided to dissolve the firm on 31st March, 2019. On that date, their Capitals were X − Rs. 40,000 and Y− Rs. 30,000. Creditors amounted to Rs. 24,000. Assets were realised for Rs. 88,500. Creditors of Rs. 16,000 were taken over by X at Rs. 14,000. Remaining Creditors were paid at Rs. 7,500. The cost of realisation came to Rs. 500. Prepare necessary accounts. July 26, 2022