Marhumu and Yusuf are in partnership sharing profits and losses in the ratio of 2:1. On 31/3/2000, the partnership decided to admit Idris who is to take 1/4 of future profits without changing the ratio of Marhumu and Yusuf.
What is the new profit-sharing ratio of Marhumu and Yusuf?

Similar Questions

The conversion of a partners business into a limited liability company affords the ...

The double entry for increasing provision for bad debt is debit ...

Given: Calculate the surplus income. ...

Which of the following is not part of cost of production? ...

Nagode (Nig.) Ltd. has three departments A, B and C. You are given the following Information (i)Ren...

At the end of trading period, cost of goods sold is debited to the trading account while cost of ser...

The following transactions relate to Osei Enterprises for the year ended 31st December 2020. ...

Cash purchase - D 29,641 Creditors 1/1/14 - D 2,473 Creditors 31/12/14 - D 3,117 Cash paid to cre...

Errors in the ledger can be corrected through ...

The concept of Double Entry Book-Keeping states that ...