State the ratio in which the partners share profits or losses on revaluation of assets and liabilities, when there is a change in profit sharing ratio amongst existing partners? Post category:Accountancy Reading time:1 mins read SOLUTION In 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 PostHow the goodwill is valued under the Capitalisation of Super Profit method? Next PostHow are the accumulated profits and losses distributed when there is change in profit sharing ratio amongst existing partners? You Might Also Like Vimal and Nirmal are partners in a firm sharing profits and losses in the ratio of 3: 2. A new partner Kailash is admitted. Vimal gives 1/5th of his share and Nirmal gives 2/5th of his share in favour of Kailash. For the purpose of Kailash’s admission, goodwill of the firm is valued at 75,000 and Kailash brings his share of goodwill in cash which is retained in the business. Journalise the above transactions. November 3, 2022 Calculate Trade payables Turnover Ratio from the following information: Opening Creditors Rs. 1,25,000; Opening Bills Payable Rs. 10,000; Closing Creditors Rs. 90,000; Closing bills Payable Rs. 5,000; Purchases Rs. 9,50,000; Cash Purchases Rs. 1,00,000; Purchases Return Rs. 45,000. August 16, 2022 Dev withdrew & 10,000 on 15th day of every month. Interest on drawings was to be charged @ 12 P.a. Calculate interest on Dev’s Drawings. July 21, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.