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Anu, Prabha and Milli are partners. Anu retires. Calculate the future profit sharing ratio of continuing partners and gaining ratio if they agree to acquire her share : (a) in the ratio of 5:3; (b) equally.?
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Anu, Prabha and Milli are partners. Anu retires. Calculate the future ...
**Given Information:**
- Anu, Prabha, and Milli are partners.
- Anu retires.
- The future profit sharing ratio of continuing partners and gaining ratio needs to be calculated.
- There are two scenarios to consider:
(a) Acquiring Anu's share in the ratio of 5:3.
(b) Acquiring Anu's share equally.

**Calculation:**

1. Calculate the Profit Sharing Ratio before Anu's Retirement:
- Let's assume the profit sharing ratio of Anu, Prabha, and Milli before Anu's retirement is A:B:C.
- The sum of the profit sharing ratios of all partners is usually equal to the total number of partners.
- Therefore, A + B + C = 3. (Total number of partners = 3)

2. Calculate the Share of Anu before Retirement:
- Suppose the total profit of the partnership is P.
- Anu's share of the profit before retirement can be calculated as:
- Anu's Share = (A / (A + B + C)) * P = (A / 3) * P

3. Calculate the Share of Prabha and Milli after Anu's Retirement:
- Since Anu is retiring, her share will be distributed between Prabha and Milli according to the given ratio.
- (a) If the ratio is 5:3:
- Prabha's Share = (5 / (5 + 3)) * (A / 3) * P = (5 / 8) * (A / 3) * P
- Milli's Share = (3 / (5 + 3)) * (A / 3) * P = (3 / 8) * (A / 3) * P
- (b) If the ratio is equal:
- Prabha's Share = (1 / 2) * (A / 3) * P = (A / 6) * P
- Milli's Share = (1 / 2) * (A / 3) * P = (A / 6) * P

4. Calculate the Future Profit Sharing Ratio of Continuing Partners:
- The future profit sharing ratio of Prabha and Milli will be the new ratio of their shares after Anu's retirement.
- (a) If the ratio is 5:3:
- Future Profit Sharing Ratio of Prabha = Prabha's Share / (Prabha's Share + Milli's Share)
- Future Profit Sharing Ratio of Milli = Milli's Share / (Prabha's Share + Milli's Share)
- (b) If the ratio is equal:
- Future Profit Sharing Ratio of Prabha = Prabha's Share / (Prabha's Share + Milli's Share)
- Future Profit Sharing Ratio of Milli = Milli's Share / (Prabha's Share + Milli's Share)

5. Calculate the Gaining Ratio:
- The gaining ratio is the difference between the future profit sharing ratio and the existing profit sharing ratio of the continuing partners.
- Gaining Ratio = Future Profit Sharing Ratio - Existing Profit Sharing Ratio

**Summary:**
- The future profit sharing ratio of continuing partners and
Community Answer
Anu, Prabha and Milli are partners. Anu retires. Calculate the future ...
I think there were not any deed,soo the profit share would be equally
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Anu, Prabha and Milli are partners. Anu retires. Calculate the future profit sharing ratio of continuing partners and gaining ratio if they agree to acquire her share : (a) in the ratio of 5:3; (b) equally.?
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Anu, Prabha and Milli are partners. Anu retires. Calculate the future profit sharing ratio of continuing partners and gaining ratio if they agree to acquire her share : (a) in the ratio of 5:3; (b) equally.? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Anu, Prabha and Milli are partners. Anu retires. Calculate the future profit sharing ratio of continuing partners and gaining ratio if they agree to acquire her share : (a) in the ratio of 5:3; (b) equally.? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Anu, Prabha and Milli are partners. Anu retires. Calculate the future profit sharing ratio of continuing partners and gaining ratio if they agree to acquire her share : (a) in the ratio of 5:3; (b) equally.?.
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