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A and b were partners sharing profits and losses in the ratio of 3: 1 and c and b were partners sharing profits and losses equality following were their balance shee as on 31/03/2009?
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A and b were partners sharing profits and losses in the ratio of 3: 1 ...
Partnership Overview
In a partnership, A and B share profits and losses in the ratio of 3:1, while C and B share profits and losses equally. This dual partnership structure can influence financial decisions and distributions.
Balance Sheet as of 31/03/2009
Here is a simplified representation of the balance sheet for partners A, B, and C on the specified date:
  • Assets:
    • Cash: $X
    • Inventory: $Y
    • Fixed Assets: $Z
    • Total Assets: $ (X + Y + Z)


  • Liabilities:
    • Creditors: $A
    • Loans: $B
    • Partner's Capital Accounts:

      • A's Capital: $C
      • B's Capital: $D
      • C's Capital: $E

    • Total Liabilities: $ (A + B + C + D + E)




Profit Sharing Ratio
- A and B (3:1)
- C and B (1:1)
This indicates that A receives 75% of the profits shared with B, while C and B each receive 50% of their shared profits.
Conclusion
Understanding the partnership structure and the balance sheet is crucial for determining the distribution of profits and managing financial responsibilities among partners. Each partner's capital account reflects their investment and share of profits or losses, essential for decision-making within the partnership.
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A and b were partners sharing profits and losses in the ratio of 3: 1 ...
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A and b were partners sharing profits and losses in the ratio of 3: 1 and c and b were partners sharing profits and losses equality following were their balance shee as on 31/03/2009?
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A and b were partners sharing profits and losses in the ratio of 3: 1 and c and b were partners sharing profits and losses equality following were their balance shee as on 31/03/2009? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A and b were partners sharing profits and losses in the ratio of 3: 1 and c and b were partners sharing profits and losses equality following were their balance shee as on 31/03/2009? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and b were partners sharing profits and losses in the ratio of 3: 1 and c and b were partners sharing profits and losses equality following were their balance shee as on 31/03/2009?.
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