Ramesh and Suresh are partners sharing profits and losses in the ratio of 2:1 respectively. Ramesh...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Ramesh and Suresh are partners sharing profits and losses in the ratio of 2:1 respectively. Ramesh capital is Rs 1,02,000 and Suresh capital is Rs 73,000. They admit Mahesh and agree to give him 1/5th share in future profits. Mahesh bring Rs 14,000 as share of goodwill. He agrees to contribute capital in the new profit sharing ratio. How much capital should be brought by Mahesh? Ramesh and Suresh are partners sharing profits and losses in the ratio of 2:1 respectively. Ramesh capital is Rs 1,02,000 and Suresh capital is Rs 73,000. They admit Mahesh and agree to give him 1/5th share in future profits. Mahesh bring Rs 14,000 as share of goodwill. He agrees to contribute capital in the new profit sharing ratio. How much capital should be brought by Mahesh?
Expert Answer:
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date:
Students also viewed these accounting questions
-
For the year ending June 30, 2008, Microsoft Corporation reported short-term unearned revenue of $13,397 million. For the year ending June 30, 2008, Microsoft also reported total revenues of $60,420...
-
For the year ending June 30, 2012, Aspen Medical Services Co. mistakenly omitted adjusting entries for (1) $2,100 of supplies that were used, (2) unearned revenue of $13,900 that was earned, and (3)...
-
For the year ending June 30, 2008, Ambulatory Medical Services Co. mistakenly omitted adjusting entries for (1) $1,034 of supplies that were used, (2) Unearned revenue of $6,481 that was earned, and...
-
Find a function (x, y) such that = (y, x).
-
A heat engine operates between two TERs at 1000oC and 20oC respectively. Two-thirds of the work output is used to drive a heat pump that removes heat from the cold surroundings at 0oC and transfers...
-
In Exercises 6166, evaluate each algebraic expression for x = 2 and y = -5. |x| - [y]
-
What is the efficiency wage hypothesis? Explain what employers might gain from paying wages above the market-clearing level.
-
You purchase 1,000 shares of Spears Grinders Inc. stock for $45 per share. A year later, the stock pays a dividend of $1.25 per share and it sells for $49. a. Calculate your total dollar return. b....
-
V. (20 points) Use a loop: Write the C++ code that prints out the numbers from 1 to 100 and their squares (the number raised to the 2 power) and cubes (the number raised to the 3rd power). Your...
-
Keuka Studies does custom metal sculptures of horses and other animals. A horse sculpture is composed of numerous parts. They use a lathe to construct two types of parts. The Body part is used to...
-
"When(ever) you choose to delete something you shared on Facebook, we remove it from the site. Some of this information is permanently deleted from our servers; however, some things can only be...
-
(A) Draw the phylogeny (can be hand-drawn; scan/photo) of the various species given to you in Table Remember that derived traits are those that are different from the outgroup. Indicate on the...
-
Valves are among the most important components controlling a cars engine. They regulate both the intake of air for the combustion process and the discharge of the exhaust gases generated in the...
-
If the Sun generates 3 times 1 0 W throughout its lifetime, how much mass will the Sun convert to energy over its entire main sequence lifetime?
-
As a result, even while CSR has expenses associated with it, it may also result in important advantages that help an organization ultimately increase its revenues. It's crucial to remember that a...
-
- Imagine we generate a rectangular mesh with a boundary using an n + 1 by n + 1 grid of vertices. In the example it is using n = 5. We have (5+1) * (5+1) grid of vertices and 5 * 5 * 2 triangles....
-
What is the additional, fifth level in Kaufman's levels of learning evaluations? Employee satisfaction Customer satisfaction Product consequences Societal consequences
-
The Ferris wheel in the figure has a radius of 68 feet. The clearance between the wheel and the ground is 14 feet. The rectangular coordinate system shown has its origin on the ground directly below...
-
Based on the data in Exercise 4-24, prepare the adjusting entries for Zeidman Security Services Co.
-
Pyramid Company is a small rug retailer owned and operated by Rosemary Endecott. After the accounts have been adjusted on January 31, the following selected account balances were taken from the...
-
Rearrange the following steps in the accounting cycle in proper sequence: a. Financial statements are prepared. b. An adjusted trial balance is prepared. c. Adjustment data are assembled and...
-
Show that the entropy of an ideal gas in thermal equilibrium is given by the formula \[ S=k \sum_{\varepsilon}\left[\left\langle n_{\varepsilon}+1ightangle \ln \left\langle...
-
Study the density matrix and the partition function of a system of free particles, using the unsymmetrized wavefunction (5.4.3) instead of the symmetrized wavefunction (5.5.7). Show that, following...
-
Determine the values of the degeneracy discriminant \(\left(n \lambda^{3}ight)\) for hydrogen, helium, and oxygen at NTP. Make an estimate of the respective temperature ranges where the magnitude of...
Study smarter with the SolutionInn App