Give the formula for calculating ‘gaining share’ of a partner in a partnership firm. Post category:Accountancy Reading time:1 mins read SOLUTION Gaining Share = New Profit Share- Old Profit Share. 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 PostWhy do we calculate Gaining Ratio? Next PostGive two circumstances in which the Gaining Ratio is computed. You Might Also Like Where will you show purchase of Goodwill in a Cash Flow Statement? October 4, 2022 Gaurav applied for 5,000 shares of Rs. 10 each at a premium of 2.50 per share. But he was allotted only 2,500 shares on pro rata basis. After having paid Rs. 3 per share on application, he did not pay allotment money of Rs. 4.50 per share (including premium) and on his subsequent failure to pay the first call of Rs. 2 per share, his shares were forfeited. These shares were reissued at the rate of Rs. 8 per share credited as fully paid. Pass journal entries to record the forfeiture and reissue of shares. July 15, 2022 Slow & Steady Ltd. invited applications for 10,000 Equity Shares of Rs. 10 each for public subscription. The amount of these shares was payable as: On application Rs. 1 per share, on allotment Rs. 2 per share, on first call Rs. 3 per share and on second and final call Rs. 4 per share. All sums payable on application, allotment and calls were duly received with the following exceptions: (i) A, who held 200 shares, failed to pay the money on allotments and calls.(ii) B, to whom 150 shares were allotted, failed to pay the money on first call and final call.(iii) C, who held 50 shares, did not pay the amount of second and final call.The shares of A, B and C were forfeited and were subsequently reissued for cash as fully paid-up at a discount of 5%.Pass necessary Journal entries to record these transactions in the books of X Ltd. July 14, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Gaurav applied for 5,000 shares of Rs. 10 each at a premium of 2.50 per share. But he was allotted only 2,500 shares on pro rata basis. After having paid Rs. 3 per share on application, he did not pay allotment money of Rs. 4.50 per share (including premium) and on his subsequent failure to pay the first call of Rs. 2 per share, his shares were forfeited. These shares were reissued at the rate of Rs. 8 per share credited as fully paid. Pass journal entries to record the forfeiture and reissue of shares. July 15, 2022
Slow & Steady Ltd. invited applications for 10,000 Equity Shares of Rs. 10 each for public subscription. The amount of these shares was payable as: On application Rs. 1 per share, on allotment Rs. 2 per share, on first call Rs. 3 per share and on second and final call Rs. 4 per share. All sums payable on application, allotment and calls were duly received with the following exceptions: (i) A, who held 200 shares, failed to pay the money on allotments and calls.(ii) B, to whom 150 shares were allotted, failed to pay the money on first call and final call.(iii) C, who held 50 shares, did not pay the amount of second and final call.The shares of A, B and C were forfeited and were subsequently reissued for cash as fully paid-up at a discount of 5%.Pass necessary Journal entries to record these transactions in the books of X Ltd. July 14, 2022