A and B are partners sharing profits and losses in the proportion of 7 : 5. They agree to admit C, their manager, into partnership who is to get 1/6th share in the profits. He takes this share as 1/24th from A and 1/8th from B. Calculate new profit sharing ratio.
A and B are partners sharing profits and losses in the proportion of 7 : 5.
They agree to admit C, their manager, into partnership who is to get 1/6th share in the profits.
He takes this share as 1/24th from A and 1/8th from B.
Calculate new profit sharing ratio.
Anurag Pathak Changed status to publish May 14, 2023