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 VXN Ltd. invited applications for issuing 50,000 equity shares of Rs. 10 each at a premium of Rs. 8 per share. The amount was payable as follows: July 15, 2022 A and B were partners in a firm sharing profits and losses in the ratio of 5: 3. They admitted C as a new partner. The new profit-sharing ratio between A, B and C was 3: 2: 3. A surrendered 2 / 5th of his share in favour of C. Calculate B’ s sacrifice. September 26, 2022 Ritesh and Hitesh are childhood friends, Ritesh is a consultant whereas Hitesh is an architect. They contributed equal amounts and purchased a building for Rs. 2 crores. After a year, they sold it for Rs. 3 crores and shared the profits equally. Are they doing the business in partnership? Give reason in support of your answer. (Delhi and AI 2018) October 7, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
VXN Ltd. invited applications for issuing 50,000 equity shares of Rs. 10 each at a premium of Rs. 8 per share. The amount was payable as follows: July 15, 2022
A and B were partners in a firm sharing profits and losses in the ratio of 5: 3. They admitted C as a new partner. The new profit-sharing ratio between A, B and C was 3: 2: 3. A surrendered 2 / 5th of his share in favour of C. Calculate B’ s sacrifice. September 26, 2022
Ritesh and Hitesh are childhood friends, Ritesh is a consultant whereas Hitesh is an architect. They contributed equal amounts and purchased a building for Rs. 2 crores. After a year, they sold it for Rs. 3 crores and shared the profits equally. Are they doing the business in partnership? Give reason in support of your answer. (Delhi and AI 2018) October 7, 2022