Mr. J, Mr. K, Mr. E and Mr. S are partners in a firm sharing profits and losses in the ratio of 2: 1: 2: 1. On Mr. J's retirement, the goodwill of the firm is valued at OMR. 36,000. Mr. K, Mr. E and Mr. S decided to share future profits equally. Calculate the gaining ratio of Mr. K ,Mr. E and Mrг. S.
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
![Mr. J, Mr. K, Mr. E and Mr. S are partners in a
firm sharing profits and losses in the ratio of 2:
1: 2: 1. On Mr. J's retirement, the goodwill of the
firm is valued at OMR. 36,000. Mr. K, Mr. E and
Mr. S decided to share future profits equally.
Calculate the gaining ratio of Mr. K ,Mr. E and
Mr. S.
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