Raj, Ram and Ramesh are partners sharing profits and losses in the ratio of 5: 3: 2. They admit Suresh into partnership and give him 1 / 5th share of profits. Find the new profit-sharing ratio. Post category:Accountancy Reading time:1 mins read SOLUTION 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 PostMohan and Mahesh are partners in a firm sharing profits and losses in the ratio of 3: 2. Nusrat is admitted as partner with 1 / 4 share in profit. Nusrat takes his share from Mohan and Mahesh in the ratio of 2: 1. Calculate new profit-sharing ratio. Next PostS, B and J were partners in a firm. T was admitted as a partner in the partnership firm for 1 / 5th share of profits. Calculate the sacrificing ratio of S, B and J. (CBSE 2019) You Might Also Like P P Limited is Share Broker Company. G G Limited is engaged in manufacturing of packaged food. P P Limited purchased 5,000 equity shares of Rs. 100 each of Savita Limited. G G Limited also purchased 10,000 equity shares of Rs. 100 each of Savita Limited. For the purpose of preparing their respective Cash Flow Statements, under which category of activities the purchase of shares will be classified by P P Limited and G G Limited? (C.B.S.E. Sample Paper, 2018) October 6, 2022 X and Y are partners with capitals of Rs. 50,000 each. They admit Z as a partner for 1/4th share in the profits of the firm. Z brings in Rs. 80,000 as his share of capital. The Profit and Loss Account showed a credit balance of Rs. 40,000 as on date of admission of Z. Give necessary journal entries to record the goodwill. August 1, 2022 Does partnership firm has a separate legal entity? Give reason in support of your answer. September 23, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.