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 What is meant by Sweat Equity Shares? September 28, 2022 From the following information, calculate Opening and Closing Trade Receivables, if Trade Receivables Turnover Ratio is 3 Times: (i) Cash Revenue from Operations is 1/3rd of Credit Revenue from Operations. (ii) Cost of Revenue from Operations is Rs. 3,00,000. (iii) Gross Profit is 25% of the Revenue from Operations. (iv) Trade Receivables at the end are 3 Times more than that of in the beginning. August 16, 2022 A, B and C started business on 1st April, 2018 with capitals of Rs. 1,00,000; Rs. 80,000 and Rs. 60,000 respectively sharing profits (losses) in the ratio of 4 : 3 : 3. For the year ended 31st March, 2019, the firm suffered a loss of Rs. 50,000. Each of the partners withdrew Rs. 10,000 during the year. On 31st March, 2019, the firm was dissolved, the Creditors of the firm stood at Rs. 24,000 on that date and Cash in Hand was Rs. 4,000. The assets realised Rs. 3,00,000 and Creditors were paid Rs. 23,500 in full settlement of their claims. Prepare Realisation Account and show your workings clearly. July 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
From the following information, calculate Opening and Closing Trade Receivables, if Trade Receivables Turnover Ratio is 3 Times: (i) Cash Revenue from Operations is 1/3rd of Credit Revenue from Operations. (ii) Cost of Revenue from Operations is Rs. 3,00,000. (iii) Gross Profit is 25% of the Revenue from Operations. (iv) Trade Receivables at the end are 3 Times more than that of in the beginning. August 16, 2022
A, B and C started business on 1st April, 2018 with capitals of Rs. 1,00,000; Rs. 80,000 and Rs. 60,000 respectively sharing profits (losses) in the ratio of 4 : 3 : 3. For the year ended 31st March, 2019, the firm suffered a loss of Rs. 50,000. Each of the partners withdrew Rs. 10,000 during the year. On 31st March, 2019, the firm was dissolved, the Creditors of the firm stood at Rs. 24,000 on that date and Cash in Hand was Rs. 4,000. The assets realised Rs. 3,00,000 and Creditors were paid Rs. 23,500 in full settlement of their claims. Prepare Realisation Account and show your workings clearly. July 26, 2022