Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sac : X Y Z 2:3: 5 31 , 2017 : (1) 2 : 5 : 3 , (ii) Z 10% X X Y and
Sac : X Y Z 2:3: 5 31 , 2017 : (1) 2 : 5 : 3 , (ii) Z 10% X X Y and Z are partners in a firm in the ratio of 2 : 3 : 5. On 31st March, 2017 the following proposals are unde consideration. You are required to find out change in the ratio of each partner: (i) New ratio will be 2 : 5 : 3, (ii) Z will give 10% of his share to X. (Ans. (i) X : No change, Y Gains 2/10, Z Sacrifices 2/10. (ii) X's Gains 1/20, Y No change, Z's Sacrifices 1/20.] im (Accounting for Distribution of Accumulated Profits and Reserves -
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started