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Question 02 Chapter 5 of +2-A
2. Ravi and Mukesh are sharing profits in the ratio of 7 : 3. They admit Ashok for 3/7th share in the firm which he takes 2/7th from Ravi and 1/7th from Mukesh. Calculate new profit-sharing ratio.
| Old Ratio of X, & Y | = | 7 : 3 |
| Ashok is admitted for 3/7th share of profit |
Ravi Sacrifice his share in the favour of Ashok = 2/7
Mukesh Sacrifice his share in the favour of Ashok = 1/7
In this case, we don’t need to calculate the remaining share because the sacrificed share of old partners is already given in the question. So we can calculate the new Profit Sharing ratio with the following formula
New Ratio of Old Partners = Old Ratio - Sacrificed Ratio
| Ravi New Profit Share | = | 7 | - | 2 |
| 10 | 7 |
| = | 49 - 20 |
| 70 |
| = | 29 |
| 70 |
| Ravi New Profit Share | = | 3 | - | 1 |
| 10 | 7 |
| = | 21 - 10 |
| 70 |
| = | 11 |
| 70 |
| Ashok’s Share | = | 3 | X | 10 |
| 7 | 10 |
| = | 30 |
| 70 |
| New Profit sharing Ratio between All partners | = | 30 : 11 : 30 |
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Q.No.2 | Chapter 5 – Admission of Partner | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1.
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