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rupees 60000 is paid to pp for goodwilland entry is-mm capital account---Dr 30000kks capital account----Dr 30000 to pp's capital account 60000distributed in equally because in question there is no mention of ratio so I assume there is no partnership deed and in the absence of partnership deed ratio is assumed equalplease reply is I right or wrong

Answers

Aditi Arya
Jun 25, 2019
Related rupees 60000 is paid to pp for goodwilland entry is-mm capital account---Dr 30000kks capital account----Dr 30000 to pp's capital account 60000distributed in equally because in question there is no mention of ratio so I assume there is no partnership deed and in the absence of partnership deed ratio is assumed equalplease reply is I right or wrong Related: Chapter - Retirement, Important Questions, Accountancy, Class 12
Yes u r right if profit sharing ratio is not given then it is assumed equal

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Rinku Das
2 weeks ago
If the profit sharing ratio is not given in the question then the profit will be distributed equally among the partners

Question Description
This question for Commerce 2022 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about this question covers all topics & solutions for Commerce 2022 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for rupees 60000 is paid to pp for goodwilland entry is-mm capital account---Dr 30000kks capital account----Dr 30000 to pp's capital account 60000distributed in equally because in question there is no mention of ratio so I assume there is no partnership deed and in the absence of partnership deed ratio is assumed equalplease reply is I right or wrong Related: Chapter - Retirement, Important Questions, Accountancy, Class 12.
Yes u r right if profit sharing ratio is not given then it is assumed equal