Advertisements
Advertisements
Question
A proportion in which the continuing partners get the share of retiring partner is known as ________ ratio.
Advertisements
Solution
A proportion in which the continuing partners get the share of retiring partner is known as Gain ratio.
APPEARS IN
RELATED QUESTIONS
Select the most appropriate answer from the alternatives given below:
Gaining ratio is the ratio in which ______.
Gain ratio _______ Ratio less Old Ratio.
New Ratio = Old Ratio + _____ Ratio
Apte, Bhate and Chitale are sharing `1/2, 3/10, "and" 1/5` if Apte retire their new ratio will be ______.
Write the Word/Term/Phrase which can substitute of the following statement:
The ratio in which the continuing partners are benefited due to the retirement of partner.
Write the word/phrase/term/ which can substitute of the following statement:
The ratio which is obtained by deducting the Old Ratio from New Ratio.
State whether the following statement is true or false with reason.
Gain ratio means New ratio minus Old ratio.
State whether the following statement is true or false with reason.
Retiring partner is called an outgoing partner.
State whether the following statement is true or false with reason.
On retirement of a partner, a sacrifice ratio is considered.
New Ratio (less) _________ = Gain ratio
What is meant by Retirement of a Partner?
What is Benefit Ratio?
What is New Ratio?
How is Gain Ratio calculated?
A, B and C are sharing profits and losses in the ratio of 1/2, 3/10, and 1/5 respectively. Find the new ratio of the remaining partners if A retires ______.
New Ratio (less) ______ = Gain ratio.
New Ratio (less) ____ = Gain ratio
New Ratio (less) ______ = Gain ratio
New Ratio (less) ______ = Gain ratio.
On retirement of a partner, partnership deed is ______ changed.
Given below is a Balance Sheet of A, B and C who were partners in a firm sharing profits and losses in the ratio 5 : 3 : 2.
Their Balance Sheet as on 31st March, 2023 was as follows :
| Balance Sheet as on 31-03-2023 | |||
| Liabilities | Amount (₹) | Assets | Amount (₹) |
| Creditors | 5,600 | Cash | 3,800 |
| Bank Overdraft | 4,850 | Debtors | 9,000 |
| Reserve Fund | 7,500 | Stock | 8,750 |
| Capital A/c | Machinery | 15,000 | |
| A | 21,000 | Land | 35,000 |
| B | 18,500 | Furniture | 2,500 |
| C | 16,600 | ||
| 74,050 | 74,050 | ||
On 1st April, 2023 C retired on the following terms:
(1) Goodwill of the Firm will be raised in the books at ₹ 10,000.
(2) Stock be reduced by 10% and Furniture by 5% and Machinery by 11 %.
(3) R.B.D.D. be maintained at 5% on debtors.
(4) ₹ 100 to be written off from Creditors.
(5) Out of the amount due to C, ₹ 2,500 to be paid by cash and remaining amount to be transferred to his loan account.
Prepare Profit and Loss Adjustment Account, Partner's Capital A/c, Balance Sheet of new firm.
Find the odd one:
New Ratio (less) ______ = Gain ratio.
New Ratio (less) ______ = Gain ratio.
New Ratio (less) ______ = Gain ratio
New ratio (less) ______ = Gain ratio
New Ratio (less) _____ = Gain ratio
New Ratio (less) ______ = Gain ratio
New Ratio (less) ______ = Gain ratio
New Ratio (less) ______ = Gain ratio.
New Ratio (less) _________ = Gain ratio
