Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

When A and B sharing profits and losses in the ratio 5:3, admit C as a partner giving him 1/9th share of profits? This will

When A and B sharing profits and losses in the ratio 5:3, admit C as a partner giving him 1/9th share of profits? This will be given by A and B:

a.

In their capitals ratio

b.

Equally

c.

In their profit sharing ratio

d.

None of these are correct

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Management A Strategic Emphasis

Authors: Edward Blocher, David E. Stout, Gary Cokins, Kung Chen

4th Edition

0073128155, 978-0073128153

More Books

Students also viewed these Accounting questions

Question

Discuss the steps in the development planning process. page 399

Answered: 1 week ago

Question

Identify the cause of a performance problem. page 380

Answered: 1 week ago