Aman, Vikram and Sonu are partners sharing profits in the ratio of 4 : 3 : 1. Vikram
retires selling his share of profits to Aman & Sonu for Rs. 8,100; Rs. 3,600 paid by Aman
and 4,500 paid by Sonu. Profit for the year after Vikram retirement was Rs. 10,500. 5M
You are required:-
a. To give necessary journal entries to record the transfer of Vikram’s share to Aman and Sonu.
b.To calculate a new profit sharing ratio and distribute the profits between A and C.
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Answer:
b 8
Explanation:
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