上 in absence of partnership deed profit sharing ratio will be 276031-In absence of partnership deed profit sharing ratio will be
They admit Satish into the partnership with \(\frac { 1 }{ 5 }\) th share Calculate the new profit sharing ratio of all the partners Answer Total share of the firm = 1 Satish's share \(\frac { 1 }{ 5 }\) Remaining Share = \(1\frac{1}{5}=\frac{4}{5}\) New profit sharing ratio of the partners Ramesh \(\frac{4}{5} \times \frac{3}{5}=\frac{12}{25}\) The partnership deed provided that interest on capital shall be allowed at 9% per annum During the year the firm earned a profit of Rs 7,800 Showing your calculations clearly, prepare 'Profit and Loss Appropriation Account' of Jay and Vijay for the year ended The following are the main provisions of the Indian partnership Act, 1932 that are relevant to the partnership accounts in absence of partnership deed 1 Profit Sharing Ratio If the partnership deed is silent on sharing of profit or losses among the partners of a firm, then according to the Partnership Act of 1932, profits and losses are to Pooling Resources Students Acca Glob