Why is Gaining Ratio calculated? Post category:Accountancy Reading time:1 mins read SOLUTION Gaining ratio is required because the continuing partners will pay the amount of goodwill to the retiring partner in their 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 PostState two basis lor determination of Profits from the date oflast Balance Sheet to the date of death/retirement. Next PostWhy are assets and liabilities revalued at the time of retirement of a partner? You Might Also Like Nimrat, Maira and Kabir are partners sharing profits in the ratio of 2: 2: 1. Nimrat is guaranteed minimum profit of Rs. 1,60,000 per annum. Net Profit for the year ended 31st March, 2022 is Rs. 1,00,000. Prepare Profit & Loss Appropriation Account for the year. October 18, 2022 A and B were partners in a firm. They admitted C as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of A and B were Rs. 3,85,000 and Rs. 4,15,000 respectively. C brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by C. (C.B.S.E. Sample Paper, 2017) September 27, 2022 State whether conversion of debentures into equity shares by a financing company will result in inflow’, outflow’ or no flow’ of cash. October 4, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Nimrat, Maira and Kabir are partners sharing profits in the ratio of 2: 2: 1. Nimrat is guaranteed minimum profit of Rs. 1,60,000 per annum. Net Profit for the year ended 31st March, 2022 is Rs. 1,00,000. Prepare Profit & Loss Appropriation Account for the year. October 18, 2022
A and B were partners in a firm. They admitted C as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of A and B were Rs. 3,85,000 and Rs. 4,15,000 respectively. C brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by C. (C.B.S.E. Sample Paper, 2017) September 27, 2022
State whether conversion of debentures into equity shares by a financing company will result in inflow’, outflow’ or no flow’ of cash. October 4, 2022