Mr. D, Mr. N and Mr. 5 were partners in a firm sharing profits in the ratio of S:32. Mr. N retired and the new profit sharing ratio between Mr. D and Mr. 5 was 21 Calculate the gaining ratio of Mr. D and Mr. S (1):10. It means Mr. Dis gaining and Mr. S is sacrificing (-1) :10. It means Mr. D is sacrificing and Mr. S is gaining 10: (-1). It means both are gaining 10:1. It means both are sacrificing (-1:10. t means Mr. D is gaining and Mr. S is sacrificing

Mr. D, Mr. N and Mr. 5 were partners in a firm sharing profits in the ratio of S:32. Mr. N retired and the new profit sharing ratio between Mr. D and Mr. 5 was 21 Calculate the gaining ratio of Mr. D and Mr. S (1):10. It means Mr. Dis gaining and Mr. S is sacrificing (-1) :10. It means Mr. D is sacrificing and Mr. S is gaining 10: (-1). It means both are gaining 10:1. It means both are sacrificing (-1:10. t means Mr. D is gaining and Mr. S is sacrificing

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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