H, P and S were partners in a firm sharing profits in the ratio of 4 : 3 : 3. On August 1, 2017, P died. His 20 % share was acquired by H and remaining by S. Calculate the new profit sharing ratio.

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Where will you show purchase of computer in cash flow statement?
This is an outflow of cash, and computer is a fixed nature asset so it is shown as an outflow in investing activity
Vijaya
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Is a partner entitled to salary if he works more than others if partnership deed is silent?
No partner is entitled to a salary if Partnership Deed is silent on it. It doesnt make any difference if he works more than others, if Partnership Deed is silent on it.
Raindial
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Meaning of partnership term
Partnership is the legal relation between two or more persons who have agreed to share profits and losses of the business carried on by all or any of them acting for all.



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