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Question 19 Chapter 5 - Unimax Class 12 Part 1 - 2021
19. A and B were partners in a firm sharing profits in 3 : 2. On 1st April, 2020 they admitted C as a new partner for 1/4th share. On 1st April, 2021, D was admitted as a new partner for 1/5th share which he acquired equally form A, B and C. Calculate the new profit sharing ratio.
Let total profit = 1
C’s Share =1/4
Remaining Profit = 1 -1/4 =4-1/4 =3/4
A’s new share =3/5 X 3/4 =9/20
B’s new share =2/5 X 3/4 =6/20
New profit sharing ratio = A : B : C
=9/20: 6/20:1/4
= 9 : 6 : 5 Ans.
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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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