X, T and Z are partners sharing profits in the ratio, of 1 / 2: 2 / 5 and 1 / 10. Find the new ratio of remaining partners if Z retires. Post category:Accountancy Reading time:1 mins read SOLUTION Old ratio of X, Y and Z = 1 / 2: 2 / 5: 1 / 10 or 5: 4: 1.Hence, if Z retires, the new ratio between X and Twill be 5: 4. 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 PostA. B and C are partners sharing profits in the ratio of 1 /2: 1 / 4: 1 / 4 What will be the new ratio on the retirement of B? Next PostA, B and C are partners sharing profits in the ratio of 1 / 4: 3 / 10: 9 / 20. What will be the new ratio on the retirement of C? You Might Also Like Pass necessary Journal entries on the dissolution of a firm in the following cases: (a) Dharam, a partner, was appointed to look after the process of dissolution at a remuneration of Rs. 12,000 and he had to bear the dissolution expenses. Dissolution expenses Rs. 11,000 were paid by Dharam. (b) Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of Rs. 15,000. Jay agreed to bear dissolution expenses. Actual dissolution expenses Rs. 16,000 were paid by Vijay, another partner on behalf of Jay. (c) Deepa, a partner, was to look after the process of dissolution and for this work she was allowed a remuneration of Rs. 7,000. Deepa agreed to bear dissolution expenses. Actual dissolution expenses Rs. 6,000 were paid from the firm’s bank account. (d) Dev, a partner, agreed to do the work of dissolution for Rs. 7,500. He took away stock of the same amount as his commission. The stock had already been transferred to Realisation Account. (e) Jay’s, a partner, agreed to do the work of dissolution for which he was allowed a commission of Rs. 10,000. He agreed to bear the dissolution expenses. Actual dissolution expenses paid by Jay’s were Rs. 12,000. These expenses were paid by Jay’s by drawing cash from the firm. (f) A debtor of Rs. 8,000 already transferred to Realisation Account agreed to pay the realisation expenses of Rs. 7,800 in full settlement of his account. July 25, 2022 A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C as partner in the firm for 1/4th share in profits which he takes 1/6th from A and 1/12th from B. C brings in only 60% of his share of firm’s goodwill. Goodwill of the firm has been valued at Rs. 1,00,000. Pass necessary journal entries to record this arrangement. August 1, 2022 From the following information, calculate Inventory Turnover Ratio; Operating Ratio and Working Capital Turnover Ratio: Opening Inventory Rs. 28,000; Closing Inventory Rs. 22,000; Purchases Rs. 46,000; Revenue from Operations, i.e., Net Sales Rs. 80,000; Return Rs. 10,000; Carriage Inwards Rs. 4,000; Office Expenses Rs. 4,000; Selling and Distribution Expenses Rs. 2,000; Working Capital Rs. 40,000. August 17, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Pass necessary Journal entries on the dissolution of a firm in the following cases: (a) Dharam, a partner, was appointed to look after the process of dissolution at a remuneration of Rs. 12,000 and he had to bear the dissolution expenses. Dissolution expenses Rs. 11,000 were paid by Dharam. (b) Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of Rs. 15,000. Jay agreed to bear dissolution expenses. Actual dissolution expenses Rs. 16,000 were paid by Vijay, another partner on behalf of Jay. (c) Deepa, a partner, was to look after the process of dissolution and for this work she was allowed a remuneration of Rs. 7,000. Deepa agreed to bear dissolution expenses. Actual dissolution expenses Rs. 6,000 were paid from the firm’s bank account. (d) Dev, a partner, agreed to do the work of dissolution for Rs. 7,500. He took away stock of the same amount as his commission. The stock had already been transferred to Realisation Account. (e) Jay’s, a partner, agreed to do the work of dissolution for which he was allowed a commission of Rs. 10,000. He agreed to bear the dissolution expenses. Actual dissolution expenses paid by Jay’s were Rs. 12,000. These expenses were paid by Jay’s by drawing cash from the firm. (f) A debtor of Rs. 8,000 already transferred to Realisation Account agreed to pay the realisation expenses of Rs. 7,800 in full settlement of his account. July 25, 2022
A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C as partner in the firm for 1/4th share in profits which he takes 1/6th from A and 1/12th from B. C brings in only 60% of his share of firm’s goodwill. Goodwill of the firm has been valued at Rs. 1,00,000. Pass necessary journal entries to record this arrangement. August 1, 2022
From the following information, calculate Inventory Turnover Ratio; Operating Ratio and Working Capital Turnover Ratio: Opening Inventory Rs. 28,000; Closing Inventory Rs. 22,000; Purchases Rs. 46,000; Revenue from Operations, i.e., Net Sales Rs. 80,000; Return Rs. 10,000; Carriage Inwards Rs. 4,000; Office Expenses Rs. 4,000; Selling and Distribution Expenses Rs. 2,000; Working Capital Rs. 40,000. August 17, 2022