At the time of admission of a partner, who decides the share of profit of the new partner out of the firm’s profit? Post category:Accountancy Reading time:1 mins read SOLUTION Share of profit of the new partner is decided mutually among the old partners and the new partner. 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 PostHow can a new partner be admitted? Next PostGive the two main rights acquired by the new partner. You Might Also Like A Ltd.’s Liquidity Ratio is 2.5: 1. Inventory is Rs. 6,00,000. Current Ratio is 4: 1. Find out the Current Liabilities. August 12, 2022 In the absence of partnership deed, what is the ratio in which the profits of a firm are divided among the partners? September 23, 2022 E and F were partners in a firm sharing profits in the ratio of 3 : 1. They admitted G as a new partner on 1st April, 2019 for 1/3rd share. It was decided that E, F and G will share future profits equally. G brought Rs. 50,000 in cash and machinery valued at Rs. 70,000 as premium for goodwill. Pass necessary Journal entries in the books of the firm. August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A Ltd.’s Liquidity Ratio is 2.5: 1. Inventory is Rs. 6,00,000. Current Ratio is 4: 1. Find out the Current Liabilities. August 12, 2022
In the absence of partnership deed, what is the ratio in which the profits of a firm are divided among the partners? September 23, 2022
E and F were partners in a firm sharing profits in the ratio of 3 : 1. They admitted G as a new partner on 1st April, 2019 for 1/3rd share. It was decided that E, F and G will share future profits equally. G brought Rs. 50,000 in cash and machinery valued at Rs. 70,000 as premium for goodwill. Pass necessary Journal entries in the books of the firm. August 1, 2022