Question 10 Chapter 5 of +2-A
10. X and Y were partners sharing profits in the ratio of 3 : 2. They admitted P and Q as new partners. X surrendered 1/3rd of his share in favour of P and Y surrendered 1/4th of his share in favour of Q. Calculate new profit-sharing ratio of X, Y, P and Q.
The solution of Question 10 Chapter 6 of +2-A
| Old Ratio of X and Y | = | 3 : 2 |
| X surrendered his share in the favour of P | = | 1/3th |
| Ysurrendered his share in the favour of Q | = | 1/4th |
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 | = | 3 | - | 1 |
| 5 | 3 |
| = | 3 |
| 15 |
| Y Sacrificing Share | = | 2 | - | 1 |
| 5 | 4 |
| = | 2 |
| 20 |
New Ratio of Old Partners = Old Ratio - Sacrificed Ratio
| X’s New Profit Share | = | 3 | - | 3 |
| 5 | 15 |
| = | 9 - 3 |
| 15 |
| = | 6 |
| 15 |
| Y New Profit Share | = | 2 | - | 2 |
| 5 | 20 |
| = | 8 - 2 |
| 20 |
| = | 6 |
| 20 |
| P’s Share | = | X’s Sacrificing |
| = | 3 | |
| 15 |
| Q’s Share | = | Y’s Sacrificing |
| = | 2 | |
| 20 |
| New Profit sharing Ratio between All partners | = | 6 | : | 6 | : | 3 | : | 3 |
| 15 | 20 | 15 | 20 |
| = | 24 : 18 : 12 : 6 |
| 60 |
| New Profit sharing Ratio between All partners | = | |
| = | 4 : 3 2 : 1 |
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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.10 | 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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