Profit or loss on Realisation should be divided among partners in the __________
Capital Ratio
Equally
Profit Sharing Ratio.
None of these
Profit or loss on Realisation should be divided among partners in the Profit Sharing Ratio.
The profit on Realisation is 50000. X, Y, and Z are partners in a firm sharing profits 2:1:1. The capital ratio is 1:1:2. The profit on realisation transferred to X is ?
A, B, and C are partners in the firm sharing profits in the ratio of 3 : 2 : 1. B retired and his share was divided equally between A and C. Calculate the new profit sharing ratio of A and C.