Webbexample, Ram, Mohan and Sohan are partners in a firm sharing profits in the ratio of 3:2:1. With effect from April 1,2015 they decided to share profits equally ... Ram, Shyam and Ghanshyam. Admission of a Partner 119 Solution Ram’s old share = 3 5 Share surrendered by Ram = 1 4 of 3 3 5 20 = Ram’s new share = WebbRam's claim is invalid as there's no partnership deed existing for profit sharing ratio .According to the provision of partnership accounting , the profits and losses of the firm are to be shared equally by the partners , irrespective of their capital contribution in the firm if the partnership deed is silent about the profit sharing ratio.
Ram Shyam and Mohan were in partnership sharing profits - Self …
Webb12. Sukesh and Vanita were partners in a firm. Their partnership agreement provides that: (i) Profits would be shared by Sukesh and Vanita in the ratio of 3:2. (ii) 5% interest is to be allowed on capital. (iii) Vanita should be paid a monthly salary of ₹ 600. The following balances were extracted from the books of the firm on March 31, 2024. WebbRam, Shyam and Mohan were in partnership sharing profits and losses in the proportions of 3 : 2 : 1. On 1st April, 2011, Shyam retires from the firm. On that date, their Balance Sheet was as follows : defy extreme crystal clear
Question 44 Chapter 5 of +2 Part-1 - USHA Publication 12 Class Part - 1
Webb21 aug. 2024 · Ram, Mohan and Sohan sharing profits and losses equally have capitals of Rs. 1,20,000, Rs. 90,000 and Rs. 60,000. For the year ended 31st March, 2024, interest was credited to them @ 6% instead of 5%. Give adjustment Jounral entry. accounting for partnership firms class-12 1 Answer +2 votes answered Aug 21, 2024 by Sindhu01 … WebbRam, Shyam and Mohan were in partnership sharing profits and losses in the proportions of 3 : 2 : 1. On 1st April, 2011, Shyam retires from the firm. On that date, their Balance Sheet was as follows : Capital and Liabilities Rs Assets Rs Trade Creditors 30, 000 Cash in hand 90, 000 Bills Payable 27, 000 Debtors 1, 60, 000 Expenses owing 45, 000 ... Webb8 aug. 2024 · Ram, Shyam and Mohan were partners in a firm sharing profits and losses in the ratio of 2: 1: 2. Their capitals were fixed at Rs.3, 00,000, asked Aug 8, 2024 in Accounts by Sakil Alam (64.3k points) accounting for partnership firms; class-12; 0 votes. 1 answer. fence post depth michigan