Question 06 Chapter 5 of +2-A
6. X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. Z is admitted as partner with 1/4 share in profit. Z acquires his share from X and Y in the ratio of 2 : 1.
Calculate new profit-sharing ratio.
The solution of Question 06 Chapter 5 of +2-A
| Old Ratio of X and Y | = | 3 : 2 |
Z is admitted for 1/4th Share in Profits
sacrificing Ratio of X and Y is 2 : 1
In this case we have to calculate the sacrificing share of both partners with the following formula and then subtract this share from the profit share of old partners: -
Sacrificing Share of Old Partners = New Partner’s Share X Sacrificed Ratio
| X Sacrificing Share | = | 1 | X | 2 |
| 4 | 3 |
| = | 2 |
| 12 |
| Y Sacrificing Share | = | 1 | X | 1 |
| 4 | 3 |
| = | 1 |
| 12 |
New Ratio of Old Partners = Old Ratio - Sacrificed Ratio
| X New Profit Share | = | 3 | - | 2 |
| 5 | 12 |
| = | 36 - 10 |
| 60 |
| = | 26 |
| 60 |
| Y New Profit Share | = | 2 | - | 1 |
| 5 | 12 |
| = | 24 - 5 |
| 60 |
| = | 19 |
| 60 |
| Z’s Share | = | 1 | X | 15 |
| 4 | 15 |
| = | 15 |
| 60 |
| New Profit sharing Ratio between All partners | = | 26 : 19 : 15 |
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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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