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प्रश्न
How is Gain Ratio calculated?
उत्तर
Gain ratio is calculated at the time of retirement of a partner by deducting old ratio from new ratio.
संबंधित प्रश्न
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.
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.
What is meant by Retirement of a Partner?
What is Benefit Ratio?
What is New Ratio?
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 ______.
Given below is the Balance sheet of Amar, Akbar and Anthony who were sharing profits and losses equally:
| Balance Sheet as on 31st March, 2020 | ||||
| Liabilities | Amount ₹ | Assets | Amount ₹ | |
| Creditors | 31,000 | Cash | 39,000 | |
| General Reserve | 24,000 | Debtors | 32,000 | |
| Capital Accounts: | Less: R.D.D | 4,000 | 28,000 | |
| Amar | 57,400 | Furniture | 30,000 | |
| Akbar | 63,600 | Machinery | 80,000 | |
| Anthony | 60,000 | Motor Car | 50,000 | |
| Profit and Loss A/c | 9,000 | |||
| 2,36,000 | 2,36,000 | |||
Amar retired on 1st April, 2020 from the firm on the following terms:
- Furniture to be valued at ₹ 28,000, Machinery ₹ 76,000 and Motor car ₹ 47,600.
- R.D.D. to be maintained at 5% on debtors.
- Goodwill of the firm is to be valued at ₹ 30,000. However, only Amar’s share is to be raised in the books.
- A part payment of ₹ 20,000 to be made to Amar and the balance to be transferred to his Loan Account.
Prepare:
- Profit and Loss Adjustment A/c.
- Partners’ Capital Account.
- Balance Sheet of the New firm.
New Ratio (less) ____ = Gain ratio
New Ratio (less) ______ = Gain ratio.
Asha, Nimisha and Shital are partners sharing profits and losses in the ratio of 5 : 4 : 2. Shital retires. New ratio for Asha and Nimisha is 6 : 5. Calculate Gain ratio.
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.
Amar, Asit and Mohit are partners in a firm sharing profits and losses in the proportion 3 : 1 : 1 respectively. Their Balance Sheet as on 31st March, 2023 is as shown below:
| Balance Sheet as on 31st March, 2023 | |||
| Liabilities | Amount (₹) | Assets | Amount (₹) |
| Creditors | 80,000 | Bank | 25,000 |
| General Reserve | 1,00,000 | Debtors | 1,20,000 |
| Bills Payable | 50,000 | Livestock | 1,00,000 |
| Capital Accounts: | Building | 1,50,00 | |
| Amar | 2,50,000 | Plant and Machinery | 70,000 |
| Asit | 2,00,000 | Motor Truck | 2,00,000 |
| Mo hit | 1,00,000 | Goodwill | 1,15,000 |
| 7,80,000 | 7,80,000 | ||
On 1st April, 2023 Mohit retired and the following adjustments have been agreed upon:
(I) Goodwill was revalued on ₹ 1,00,000.
(2) Assets and Liabilities were revalued as follows:"
Debtors ₹ 1,00,000, Livestock ₹ 90,000, Building ₹ 2,50,000, Plant and Machinery ₹ 60,000, Motor truck ₹ 1,90,000 and Creditors ₹ 60,000.
(3) Amar and Asit contributed additional capital through Net Banking of ₹ 1,00,000 and ₹ 50,000 respectively.
(4) Balance of Mohit's Capital Account is transferred to his Loan Account. Give Journal entries in the books 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.
