GST Practitioner & Accounts
15024 Points
Joined March 2014
In partnership firm 2 partners having profit in the ratio of 3:2 , if they earn profit of 40000/- in F.Y
1st partners profit will be
40000 3/5 = 24000/-
2nd partners profit will be
40000 2/5 = 16000/-
This is how we use ratio 3:2 to divide the profit