Question 02 Chapter 6 of +2-Part-1
2. (Different Cases of NPS) B, C, and D were partners sharing equally. D retired. Calculate now ratio if :
(i) Band C acquired D's share equally.
(ii) B acquired 2/5 of D's share and the remaining acquired by C.
Calculation of new Profit Sharing ratio
| (i) D’s share | = | 1 |
| 3 |
| Thus gain of B | = | 1 | x | 1 |
| 3 | 6 | |||
| = | 1 | Gain of C | ||
| 6 |
| = | 1 | + | 1 |
| 2 | 3 | ||
| = | 3 | ||
| 6 |
| And C’s New Share | = | 1 | + | 1 |
| 3 | 6 | |||
| = | 3 | |||
| 6 |
| So, New Profit sharing Ratio | = | 3 | : | 3 |
| 6 | 6 | |||
| = | 1 | : | 1 |
| (ii) B’s gain | = | 2 | x | 1 |
| 5 | 3 | |||
| = | 2 | |||
| 15 |
| C’s gain | = | 3 | x | 1 |
| 5 | 3 | |||
| = | 1 | |||
| 5 |
| Alternatively C’s gain | = | 1 | - | 2 |
| 3 | 15 | |||
| = | 1 | |||
| 5 |
| So B’s New Share | = | 1 | + | 2 |
| 3 | 15 | |||
| = | 7 | |||
| 15 |
| And C’s New Share | = | 1 | + | 1 |
| 3 | 5 | |||
| = | 8 | |||
| 15 |
| So, New Profit sharing Ratio | = | 7 | : | 8 |
| 15 | 15 | |||
| = | 7 | : | 8 |
Comment if you have any questions.
Also, Check out the solved question of previous Chapters: -
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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.
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