Question 07 Chapter 5 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 07 Chapter 5 of +2-Part-1

7. (NPS) X and Y shared profit in the ratio of 7:3 . Z was admitted as a partner. X surrendered 1/7th of his share and Y surrendered 1/3rd of its share in favour of Z. Calculate new profit sharing ratio.

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The solution of Question 07 Chapter 5 of +2 Part-1: - 

Calculation of new Profit Sharing ratio

X’s old share	=	7
		10

X surrendered	=	1	of	7	In favor of Z
		7		10
	=	1	X	7
		7		10
	=	1
		10

X’s New Share	=	7	-	1
		10		10
	=	7 - 1
		10
	=	6
		10

Y surrendered	=	1	of	3	In favor of Z
		3		10
	=	1	X	3
		3		10
	=	1
		10

Y’s New Share	=	3	-	1
		10		10
	=	3 - 1
		10
	=	2
		10

Z’s share is the sum total of the shares surrendered by X and Y

=	1	+	1
	10		10
=	2
	10

New Profit sharing Ratio	=	6	:	2	:	2
	=	3	:	1	:	1

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