Question
A, B and C are equal partners in a firm. B retires and the remaining partners decide to share the profits of the new firm
A, B and C are equal partners in a firm. B retires and the remaining partners decide to share the profits of the new firm in the ratio of 5 : 4. Therefore, the calculated value og Gaining ratio is: (A) 1 : 1 (B) 1 : 2 (C) 2 : 1 (D) 5 : 4
a.
5 ; 4
b.
2 : 1
c.
1 : 2
d.
1 : 1
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
14th Edition
978-0273744535, 273744445, 273744534, 978-0273744443
