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Question 19 Chapter 5 of +2-Part-1
19. (NPS ) Singh, Gupta and Lal are partners in a firm, sharing profits in the ratio of 3:2:3. They admitted Jain as a new partner. Singh surrendered 1/3rd of his share in favour of Jain. Gupta surrendered 1/4th of his share in favour of Jain and Lal surrendered 1/5th of his share in favour of Jain. Calculate the new profit sharing ratio.
We are providing a solution of Question 19 Chapter 5 of +2 Part-1 in two formats. one is in Video format and another is in article format. Check out both formats as follows:
The video consists solution of question numbers from 12 to 23 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 19 from the flowing video by using time stamps of the video.
Calculation of new Profit Sharing ratio
Old profit sharing ratio of Singh, Gupta and Lal = 3:2:3
| Singh’s sacrifice for Jain | = | 1 | of | 3 |
| 3 | 8 | |||
| = | 1 | x | 3 |
| 3 | 8 | ||
| = | 1 | ||
| 8 |
| Singh’s new share | = | 3 | - | 1 | = | 2 |
| 8 | 8 | 8 |
| Gupta’s sacrifice for Jain | = | 1 | of | 2 |
| 4 | 8 | |||
| = | 1 | X | 2 | |
| 4 | 8 | |||
| = | 1 | |||
| 16 |
| Gupta’s new share | = | 2 | - | 1 |
| 8 | 16 | |||
| = | 3 | |||
| 16 |
| Lal‘s sacrifice for Jain | = | 1 | of | 3 |
| 5 | 8 | |||
| = | 3 | X | 1 | |
| 8 | 5 | |||
| = | 3 | |||
| 40 |
| Lal”s new share | = | 3 | - | 3 |
| 8 | 40 | |||
| = | 12 | |||
| 40 |
| Jain’s share of profit | = | 1 | + | 1 | + | 3 | = | 21 |
| 8 | 16 | 40 | 80 |
| New Profit sharing ratio | = | 2 | : | 3 | : | 12 | : | 21 |
| 8 | 16 | 40 | 80 | |||||
| New Profit sharing Ratio | = | 20 | : | 15 | : | 24 | : | 21 |
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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 "Question 19 Chapter 5 of +2 Part-1 - USHA Publication 12 Class Parat - 1", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication +2 Part 1.
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