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11 Rashid and Mazin are partners who share profit in the ratio of 3:1. Ahmed...

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Accounting

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11 Rashid and Mazin are partners who share profit in the ratio of 3:1. Ahmed is admitted and is given 1/5 share of profit. Identify from the following what is the new profit-sharing ratio of Rashid, Mazin and Ahmed? d out of a. 3:4:1 b. 3:1:1 c. 3:1 Od. None of the options 12 = Old profit sharing ratio - New profit sharing ratio out of a. Sacrificing Ratio b. Revaluating Ratio C. None of the options d. New profit Sharing Ratio on 13 Which of the following rules apply/s in case of absence of partnership deed? et red d out of a. No salaries and No interest on capital b. No salaries Only c. No interest on capital Only d. None of the options on 14 Which is/are the adjustments necessary while admitting a new partner? d out of a. Transfer of Undistributed Profit or loss Only b. Both Transfer of Undistributed Profit or loss and Accumulated reserves c. Transfer of Accumulated reserves Only O d. None of the options are correct

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