Profit and loss on revaluation is shared among the partners in old profit sharing ratio or new profit sharing ratio..??
pls reply...!!
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Replies (14)
Old ratio
Old ratio..........
Old Profit Sharing Ratio.
OLD RATIO ONLY
old ratio..
old ratio....only goodwill is adjusted in gaining or sacrificing ratio....
old profit sharing ratio
Old profit sharing ratio only.. Becoz the assets and liabilities already exist before the revaluation...
old ratio
old ratio.........
Yup.........old profit sharing ratio.
Better if participants can also give their answer - Why Old Ratio ? It will make the concept clear. In professional courses; it is a must. Because specially in CA; questions are not asked straightforward.
old PSR
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