Commerce Exam > Commerce Questions > L, M and N are partners in a firm. share prof...
Start Learning for Free
L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio.
?
Most Upvoted Answer
L, M and N are partners in a firm. share profit and loss 5:3:2 they ad...
Reconstitution of a Partnership Firm: Admission of a Partner
Given Information:
Calculation of New Ratio:
Conclusion:
After the admission of O, the new profit sharing ratio of L, M, N, and O will be 55:33:22:11.
Given Information:
- L, M, and N are partners in a firm with a profit and loss sharing ratio of 5:3:2.
- O is a new partner who is admitted for a 1/6 share.
- N will retain the original share.
Calculation of New Ratio:
- Initially, the total profit sharing ratio was 5+3+2=10.
- As O is admitted for a 1/6 share, the new profit sharing ratio will be 10+1=11.
- Since N retains the original share, the new ratio of L, M, and N will be in the ratio of 5:3:2.
- The share of O will be 1/6 of the new ratio, which is (1/6) x 11 = 11/66.
- Therefore, the new profit sharing ratio of L, M, N, and O will be 55:33:22:11.
Conclusion:
After the admission of O, the new profit sharing ratio of L, M, N, and O will be 55:33:22:11.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Similar Commerce Doubts
Top Courses for CommerceView all
L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner?
Question Description
L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner?.
L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner?.
Solutions for L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner? defined & explained in the simplest way possible. Besides giving the explanation of
L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner?, a detailed solution for L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner? has been provided alongside types of L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner? theory, EduRev gives you an
ample number of questions to practice L, M and N are partners in a firm. share profit and loss 5:3:2 they admit O as a new partners for 1/6 share. it us also agreed that N would retain original share. calculate new ratio. Related: Chapter Notes - Reconstitution of a Partnership Firm: Admission of a Partner? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup