In the absence of provision in the partnership deed, in which ratio is the deficiency arising out of guarantee of profit to a partner born by the other partners? (C.B.S.E. 2019, Chennai) Post category:Accountancy Reading time:1 mins read SOLUTION In their old profit-sharing ratio. Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ 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 PostChhavi and Neha were partners in a firm sharing profits and losses equally. Chhavi withdrew a fixed amount of Rs. 6,000 at the beginning of each quarter. Interest on drawings is charged @ 6% p.a. Pass necessary journal entry for charging interest on drawings at the end of the year. (C.B.S.E. 2019, M.P.) Next PostRaj Seema started a partnership firm on 1st july , 2018. They agreed that Seema was entitled to a commission of 10% of the net profit after agreed charging Raj’s salary of Rs. 2,500 per quarter and Seema’s commission. The net profit before charging Raj’s salary and Seema’s commission for the year ended 31st March, 2019 was Rs. 2,27,500. Calculate Seema’s commission. (C.B.S.E. 2019, Comptt.) You Might Also Like Gupta and Sharma were partners in a firm. They wanted to admit two more members in the firm. list the categories of individual other than minors who cannot be admitted by them. September 23, 2022 State giving reason, whether the Current Ratio will improve or decline or will have no effect in each of the following transactions if Current Ratio is 2: 1 (a) Cash paid to Trade Payables. (b) Bills Payable discharged. (c) Bills Receivable endorsed to a creditor. (d) Payment of final Dividend already declared. (e) Purchase of Stock-in-Trade on credit. (f) Bills Receivable endorsed to a Creditor dishonored. (g) Purchases of Stock-in-Trade for cash. (h) Sale of Fixed Assets (Book Value of Rs. 50,000) for Rs. 45,000. (i) Sale of Fixed Assets (Book Value of Rs. 50,000) for Rs. 60,000. August 12, 2022 What is the formula for calculating sacrificing ratio?￼ September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.