How To Calculate Share Of Profit In Partnership Account

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How To Calculate Share Of Profit In Partnership Account

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Ncert Solution For Class 12 Accountancy Chapter 2 Accounting For Partnership Firms Basic Concepts Download Free Pdf

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P And Q Are Partners Sharing Profits In The Ratio Of 3:2 . They Admit R A New Partner Who Acquire 1/5 Of His

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PRACTICAL QUESTIONS (Question Nos. 1 to 42 are strictly in the order of the illustrations) Sacrifice and Profit Ratio: 1. (a) X and Y were partners in a business sharing the profits in the ratio 5:3 .As of the 1st April 2019, they agreed to share the profits equally. Calculate the individual partner’s gain or sacrifice due to a change in the ratio. 1 [Ans. X sacrifices and Y gets 8th share.] (b) A and B were in partnership and shared the profits equally. Effective April 1, 2019, they agreed to share the profits in the ratio 4:3. Calculate the individual partner’s profit or sacrifice due to a change in the ratio. 1 [Ans. A wins and B sacrifices the 14th share.] 2. (a) A, B and C were in partnership and shared the profits in the ratio 4:3:1. The partners agreed to share future profits in the ratio 5 :4:3 Calculate each partner’s gain or sacrifice due to a change in the ratio. 2 1 3 [Ans. A sacrifices 24, B sacrifices 24 and C wins 24.] (b) Mahesh, Naresh and Om were partners who shared the profits in the ratio 2:3:4. With effect from April 1, 2016, they agreed to share the profits in the ratio of 1:2:3. Calculate the gain or sacrifice of each partner due to a change in the ratio. 1 [Ans. Mahesh sacrifices and Om gets 18th share. Valuation of Goodwill – Average Profit Method: 3. Calculate goodwill based on two years of purchasing the average profit of the past six years. The profit is as follows: Year ₹ Profit/Loss 1st 60,000 Profit 2 40,000 Loss 3rd 30,000 Loss 4th 1, 00,000 Profit 5 1, 70, 00 …

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Agenda Comparison Talking Points.edited The selected public health concern is the opioid crisis, which has led to numerous cases of opioid-related deaths… Agenda Comparison Talking Points.edited The selected public health concern is the opioid crisis, which has led to numerous cases of opioid-related deaths amounting to 130 per day (Lamb et…

Solved] A Partnership Begins Its First Year With The Following Capital…

Grantham University Official Misconduct Over Ethics Discussion Prologue: Today at noon, an undercover federal agent, Hans Cuff, arranged a briefing at the sheriff’s department. … Grantham University Official Misconduct Virtue Ethics Discussion Prologue: Today at noon, an undercover federal agent, Hans Cuff, arranged a briefing at the sheriff’s department. All ATF agents, Grantham County deputies and University City Officers involved in the drug investigation regarding the large shipment of meth were present at this meeting. Cuff informed officers that the confidential informant, Mookie, had called him this morning to fill him in on the details of the meth shipment. Mookie told Cuff to be at 123 Elm Street, University City, at 3 p.m.; this is when and where meth delivery will take place. After the briefing, Cuff was wired so the other officers could hear what was happening in the house. All officers were instructed on where to post around the house and on the street so as not to draw attention to themselves. At 2:45 p.m., Officer Cuff arrived at 123 Elm Street and knocked on the door. Mookie opened the door and told Cuff to come in; When Cuff stepped into the house, Mookie closed the door behind him. Suddenly Dreadford grabbed Cuff’s right arm and another man Cuff didn’t know grabbed his left arm. Mookie put a gun to the back of Cuff’s head and told him to kneel. Cuff slowly knelt on the ground; he said, “The same thing happened to me in Vegas” (this was the safe phrase to warn the other officers that Cuff was in trouble). Within no time, several officers kicked in the front and back doors, entered the home and held all three suspects at gunpoint. Officers arrested Mookie, Dreadford and the other man, identified as Pedro Ramirez, without incident. After reading the suspect’s Miranda warnings, both Dreadford and Ramirez requested an attorney, so the officers booked these two into the county jail. Mookie was the only one who agreed to talk, but only if he could get a deal. Detective Stubblefield said he would speak to the district attorney and see what he could do. However, the deal depended on the value of the information. Mookie told Detective Stubblefield that Dreadford’s dispatcher is the one who gave them all the confidential information about the city and county drug investigations. Mookie asked Detective Stubblefield if the information was good enough to make a deal. Detective Stubblefield said, “I believe so.” Detective Stubblefield placed Mookie in protective custody and booked him into the county jail, where correctional officers will ensure Mookie is separated from other inmates. Based on the information Mookie provided, Stubblefield received a warrant to search Badpenny’s home. When the officers served the warrant and arrested and charged Imogene Badpenny with possession of methamphetamine (felony), possession of drug paraphernalia (misdemeanor), and official misconduct (misdemeanor) (using her position at the sheriff’s office to gain access to confidential information for personal win ). While at Badpenny’s home, the officers discovered evidence to piece together Mookie’s story about the documents Badpenny had obtained for Dreadford regarding the drug investigations. After Badpenny’s arrest, the sheriff fired her, and the loss of her job left Badpenny without enough money to hire a lawyer. During Badpenny’s arraignment, Judge Noble Hands had Badpenny fill out indigent paperwork to apply for a public defender and set her bond at $50,000. Badpenny was unable to post bail due to her financial situation, so she returned to prison where Badpenny will remain until her next court appearance. Assignment: This week, use the information from Chapters 8 and 9 to complete a 2- to 3-page paper discussing the ethical system that explains why Badpenny’s gave confidential information to Dreadford, and how neediness affects an offender’s ability to receive competent counsel. Also analyze how conflicts of interest may arise between lawyers (both prosecutors and defense) and the judge in the above scenario. *Hint: Remember that Badpenny worked for the sheriff for years and lives in the community; she probably knows all the lawyers and judges.

Organizational Leadership at Blake Sports Apparel Since its launch, Blake Sports Apparel has experienced dramatic improvements in business performance. By the way, the capabi

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