Partnership

Accountancy

How to calculate new partner profit who is admitted in middle of the year(i.e 1/09/2021)?

R Monika

CA Final

★ 210

01-Jul-22 12:16

373

Answers (2)

Time proportionate basis.

CA Suraj Lakhotia

Admin

04-Jul-22 14:25

CA Suraj Lakhotia Admin

Time proportionate basis.

First calculate new partner profit in time proportionate basis after balance profit to be calculated in PSR for other partners. Is it correct or not?

Thread Starter

R Monika

CA Final

★ 210

04-Jul-22 14:57