Ramesh wants to retire from the firm. The profit on revaluation on that date Was Rs. 12,000. Mohan and Rahul want to share this in their new profit-sharing ratio 3: 2. Ramesh wants this shared equally. How is this profit to be shared? Post category:Accountancy Reading time:1 mins read SOLUTION Profit on Revaluation will be shared by the three partners 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 PostIn which ratio do the remaining partners acquire the share of profit of the retiring or deceased partner? (C.B.S.E. 2017, 2018 Comptt.) Next PostJamuna, Ganga and Krishna are partners in a firm. Krishna retired from the firm. After making adjustments for Reserves and Revaluation of Assets and Liabilities, the balance in Krishna’s capital account was Rs. 1,20,000. Jamuna and Ganga paid Rs. 1,80,000 in full settlement to Krishna. Identify the item for which Jamuna and Ganga paid Rs. 60.000 more to Krishna. You Might Also Like Distinguish between average profits and super profits. September 26, 2022 From the following particulars, determine Trade Receivables Turnover Ratio: August 16, 2022 A and B who shared profits in the ratio of 3: 1 admit C as a partner for l / 5th share in profits, which he acquires equally from the old partners. What will be the new profit-sharing ratio? September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.