Question

A and B were partners in a firm sharing profit or loss equally. With effect from 1st April 2019 they agreed to share profits in the ratio of 4 : 3. Due to change in profit sharing ratio, A’s gain or sacrifice will be

Answer 1

Answer:

S.R=O.R-N.R=1/2-4/7=7-4/14=3/14

A's sacrifice will be 3/14