A and B were partners in a firm sharing profis and losses in the ratio of 3:2. They admit C into the pantherihip with1/6 share in the profits Calculate the new profit sharing ratio ?
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
A and B were partners in a firm sharing profis and losses in the ratio of 3:2. They admit C into the pantherihip with1/6 share in the profits
Calculate the new profit sharing ratio ?
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