Mr. D, Mr. N and Mr. S were partners in a firm sharing profits in the ratio of 5: 3: 2. Mr. N retired and the new profit sharing ratio between Mr. D and Mr. S was 2: 3. Calculate the gaining ratio of Mr. D and Mr. S. 10: (-1). It means both are gaining

Mr. D, Mr. N and Mr. S were partners in a firm sharing profits in the ratio of 5: 3: 2. Mr. N retired and the new profit sharing ratio between Mr. D and Mr. S was 2: 3. Calculate the gaining ratio of Mr. D and Mr. S. 10: (-1). It means both are gaining

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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Concept explainers

Real Estate

Real estate means ownership of land along with the assets and natural resources that exist on the land. These properties are in real/physical form which is tangible. Real estate simply means land or addition made to land permanently like constructing a residence or different buildings. People invest in real estate to either reside or for wealth creation. Many people investing in real estate further lend the place for occupation or businesses in return for a monthly payment.

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Mr. D, Mr. N and Mr. S were partners in a firm
sharing profits in the ratio of 5: 3: 2. Mr. N
retired and the new profit sharing ratio
between Mr. D and Mr. S was 2: 3. Calculate
the gaining ratio of Mr. D and Mr. S.
10: (-1). It means both are gaining

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