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Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to?
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Partners a,b,and c share the. Profit of a business in the ratio of 3:2...
Solution:
Calculation of Profit Sharing Ratio Before Admission of D
- Let the total profit be x.
- The profit sharing ratio of A, B, and C is 3:2:1 respectively.
- Therefore, A's share of profit = 3x/6 = x/2.
- B's share of profit = 2x/6 = x/3.
- C's share of profit = 1x/6 = x/6.
Calculation of Goodwill
- D brings in Rs. 30,000 for his share of goodwill.
- The total goodwill of the business is 6x (3+2+1=6).
- Therefore, D's share of goodwill = 30,000 x 1/6 = Rs. 5,000.
Calculation of New Profit Sharing Ratio After Admission of D
- A, B, C and D decide to share the profits respectively in the ratio of 5:3:2:2.
- Let the total profit be y.
- Therefore, A's share of profit = 5y/12.
- B's share of profit = 3y/12 = y/4.
- C's share of profit = 2y/12 = y/6.
- D's share of profit = 2y/12 = y/6.
Credit Given to Each Partner
- The total profit after admission of D is y.
- A's share of profit = 5y/12.
- B's share of profit = y/4.
- C's share of profit = y/6.
- D's share of profit = y/6 + Rs. 5,000 (D's share of goodwill).
- Total of A, B, C and D's share of profit = 5y/12 + y/4 + y/6 + y/6 + Rs. 5,000 = y + Rs. 5,000.
- Therefore, credit will be given to each partner according to their share of profit.
Conclusion:
Credit will be given to each partner according to their share of profit. A will get 5y/12 of the profit, B will get y/4 of the profit, C will get y/6 of the profit and D will get y/6 of the profit plus Rs. 5,000 for his share of goodwill.
Calculation of Profit Sharing Ratio Before Admission of D
- Let the total profit be x.
- The profit sharing ratio of A, B, and C is 3:2:1 respectively.
- Therefore, A's share of profit = 3x/6 = x/2.
- B's share of profit = 2x/6 = x/3.
- C's share of profit = 1x/6 = x/6.
Calculation of Goodwill
- D brings in Rs. 30,000 for his share of goodwill.
- The total goodwill of the business is 6x (3+2+1=6).
- Therefore, D's share of goodwill = 30,000 x 1/6 = Rs. 5,000.
Calculation of New Profit Sharing Ratio After Admission of D
- A, B, C and D decide to share the profits respectively in the ratio of 5:3:2:2.
- Let the total profit be y.
- Therefore, A's share of profit = 5y/12.
- B's share of profit = 3y/12 = y/4.
- C's share of profit = 2y/12 = y/6.
- D's share of profit = 2y/12 = y/6.
Credit Given to Each Partner
- The total profit after admission of D is y.
- A's share of profit = 5y/12.
- B's share of profit = y/4.
- C's share of profit = y/6.
- D's share of profit = y/6 + Rs. 5,000 (D's share of goodwill).
- Total of A, B, C and D's share of profit = 5y/12 + y/4 + y/6 + y/6 + Rs. 5,000 = y + Rs. 5,000.
- Therefore, credit will be given to each partner according to their share of profit.
Conclusion:
Credit will be given to each partner according to their share of profit. A will get 5y/12 of the profit, B will get y/4 of the profit, C will get y/6 of the profit and D will get y/6 of the profit plus Rs. 5,000 for his share of goodwill.
Community Answer
Partners a,b,and c share the. Profit of a business in the ratio of 3:2...
Credit will go to partner capital A/c
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Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to?
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Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to?.
Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to?.
Solutions for Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to? in English & in Hindi are available as part of our courses for Commerce.
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Here you can find the meaning of Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to? defined & explained in the simplest way possible. Besides giving the explanation of
Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to?, a detailed solution for Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to? has been provided alongside types of Partners a,b,and c share the. Profit of a business in the ratio of 3:2:1 respectively . They admit D who brings in rs . 30,000 for his share of goodwill . A, B, C and D decided to share the profits respectively in the ratio of 5:3:2:2 . Credit will given to? theory, EduRev gives you an
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