Give the formula for calculating Gaining Ratio of a partners in a partnership firm. Post category:Accountancy Reading time:1 mins read SOLUTION Gaining Ratio = New Ratio – Old 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 PostDefine Gaining Ratio? Next PostWhat is meant by Gaining Partners? You Might Also Like Kamal and Kapil are partners having fixed capitals of Rs. 5,00,000 each as on 31st March, 2018. Kamal introduced further capital of Rs. 1,00,000 on 1st October, 2018 whereas Kapil withdrew Rs. 1,00,000 on 1st October, 2018 out of capital. Interest on capital is to be allowed @ 10% p.a. The firm earned net profit of Rs. 6,00,000 for the year ended 31st March, 2019. Pass the Journal entry for interest on capital and prepare Profit and Loss Appropriation Account. July 21, 2022 What is Liquid Ratio? October 1, 2022 Calculate the amount of Manan’s monthly drawings for the year ended 31st March, 2022, in the following alternative cases when Partnership Deed allows interest on drawings @10% p.a. : (i) If interest on drawings is Rs. 1,950 and he withdrew a fixed amount in the beginning of each month. (ii) If interest on drawings is Rs. 2,400 and he withdrew a fixed amount in the middle of each month. (iii) If interest on drawings is Rs. 2,750 and he withdrew a fixed amount at the end of each month. October 11, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Kamal and Kapil are partners having fixed capitals of Rs. 5,00,000 each as on 31st March, 2018. Kamal introduced further capital of Rs. 1,00,000 on 1st October, 2018 whereas Kapil withdrew Rs. 1,00,000 on 1st October, 2018 out of capital. Interest on capital is to be allowed @ 10% p.a. The firm earned net profit of Rs. 6,00,000 for the year ended 31st March, 2019. Pass the Journal entry for interest on capital and prepare Profit and Loss Appropriation Account. July 21, 2022
Calculate the amount of Manan’s monthly drawings for the year ended 31st March, 2022, in the following alternative cases when Partnership Deed allows interest on drawings @10% p.a. : (i) If interest on drawings is Rs. 1,950 and he withdrew a fixed amount in the beginning of each month. (ii) If interest on drawings is Rs. 2,400 and he withdrew a fixed amount in the middle of each month. (iii) If interest on drawings is Rs. 2,750 and he withdrew a fixed amount at the end of each month. October 11, 2022
