Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. p and q are partners in a firm sharing profits and

P and Q are partners in a firm sharing profits and losses in the ratio...

60.1K

Verified Solution

Question

Accounting

P and Q are partners in a firm sharing profits and losses in the ratio of 3:2. They admit R in to the partnership with 1/5th share in the profits. Compute the new profit sharing ratio?

a.

9:7:4

b.

4:3:2

c.

12:8:5

d.

None of these are correct.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A mathematics achievement test is given to students prior to entering a certain college. A sample...

Basic Math
Q

Knowledge Management has become a crucial component of a competitive organization and this argues that knowledge...

Operations Management
Q

Part1: Use the information from outside resources about HGPS (Hutchinson-Gilford-progeria-syndrome) to answer the questions below. Explain why the lamin...

Biology
Q

a pilot has his small airplane heading due north at 50 km/h. after two hours of...

Physics
Q

Constable Industries prepared a 2019 budget for 165000 units of product Actual production in 2019...

Basic Math
Q

11 If y 2x 9 6 x 1 calculate y Answer y 3 2x 9...

Calculus
Q

Please just answer the chart from the last picture. Will rate ...

Accounting
Q

Gryphon Corporation reported net income of $75,000 for the year. During the year, accounts receivable...

Accounting
Q

On June 30, 2018, Omara Co. had outstanding 8%, $4,000,000 face amount, 15-year bonds maturing...

Accounting
Q

What is a Canadian Mortgage? The September 2020 update on house prices, states that the...

Accounting
Q

Please solve this asap and give a detailed explanation Corey purchased two assets during the...

Accounting
Q

B. Newport Ltd had an issued share capital at 1 April 2018 of: $400,000 made...

Finance