Question

A,B and C were partners.The fixed capital were Rs 60,000,40,000and 20,000 respectively.Their profit sharing ratio was 2:2:1.According to the partnership deed ,they were entitled to entitled to interest on capital @5%p.a.in addition b was also en​

Answer 1

Answer:

When the new partner purchases his share of profit from the old partners equally : In such cases, the new profit sharing ratio of the old partners can be calculated by deducting the sacrifice made by them from their existing share of profit.