Question

A,B,C are partners with profit sharing ratio 4:3:2.B retires.If A and C share profits of B in 5:3,then find the new profit sharing ratio.​

Answer 1

Answer:

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Explanation:

of X and Y will be credited by 10,000 each.

22. A and B are partners sharing profits in the ratio of 5:3. They admit C into

the firm for 3/10th profit which he takes 2/10th from A and 1/10th from B and brings

1,50,000 as premium in Cash out of his share of 3,90,000. Goodwill account does

not appear in the books of A and B. Give journal entries and the new ratio of A, B

and C