Asin and Atul are partners sharing profits in the ratio of 3:1.They admit Sunayna as a partner, Asin
will give 1/4th of his share and Atul will give 1/8th of his share to Sunayna. A few days later Asin
retired and her share was taken over by Atul and Sunayna equally. Calculate new Profit sharing ratio
after admission and retirement.
4. The following were the profits of a firm for last six years
Year end. Net profit/Loss
2014. 30,000(including depreciation Rs1000)
2015. (40000) including gain on sale of machine Rs 2000
2016. 92000
2017. 55000(including gain on sale of investment 5000)
2018. 70000
2019. 90000(including loss on sale of furniture Rs 5,000)
Capital employed of the firm for all these years was Rs 5,00,000 and normal rate of return was 10%
a. Calculate average profit of preceding five years
b. Calculate goodwill by capitalisation of average profit for last five years
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