In which ratio do the remaining partners acquire the share of profit of the retiring or deceased partner? (C.B.S.E. 2017, 2018 Comptt.) Post category:Accountancy Reading time:1 mins read SOLUTION Remaining partners acquire the share of profit of the retiring partner in Gaining ratio. 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 PostAt the time of retirement of a partner, state the condition when there is no need to compute the gaining ratio. Next PostRamesh 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? You Might Also Like The partnership between A and B was dissolved on 31st March, 2019. On that date the respective credits to the capitals were A − Rs. 1,70,000 and B − Rs. 30,000. Rs. 20,000 were owed by B to the firm; Rs. 1,00,000 were owed by the firm to A and Rs. 2,00,000 were due to the Trade Creditors. Profits and losses were shared in the proportions of 2/3 to A, 1/3 to B. The assets represented by the above stated net liabilities realise Rs. 4,50,000 exclusives of Rs. 20,000 owed by B. The liabilities were settled at book figures. Prepare Realisation Account, Partners’ Capital Accounts and Cash Account showing the distribution to the partners. July 26, 2022 2,000 Equity Shares of Rs. 10 each were issued to Limited from whom assets of Rs. 25,000 were acquired. Pass Journal entry. July 14, 2022 While preparing Cash Flow’ Statement of Sharda Ltd. ‘Depreciation provided on fixed assets’ was added to net profit to calculate cash flow from operating activities. Was the accountant correct in doing so? Give reason. October 6, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
The partnership between A and B was dissolved on 31st March, 2019. On that date the respective credits to the capitals were A − Rs. 1,70,000 and B − Rs. 30,000. Rs. 20,000 were owed by B to the firm; Rs. 1,00,000 were owed by the firm to A and Rs. 2,00,000 were due to the Trade Creditors. Profits and losses were shared in the proportions of 2/3 to A, 1/3 to B. The assets represented by the above stated net liabilities realise Rs. 4,50,000 exclusives of Rs. 20,000 owed by B. The liabilities were settled at book figures. Prepare Realisation Account, Partners’ Capital Accounts and Cash Account showing the distribution to the partners. July 26, 2022
2,000 Equity Shares of Rs. 10 each were issued to Limited from whom assets of Rs. 25,000 were acquired. Pass Journal entry. July 14, 2022
While preparing Cash Flow’ Statement of Sharda Ltd. ‘Depreciation provided on fixed assets’ was added to net profit to calculate cash flow from operating activities. Was the accountant correct in doing so? Give reason. October 6, 2022