Question 9 Chapter 6 - Unimax Class 12 Part 1 - 2021

Question 9 Chapter 6 - Unimax Class 12 Part 1 - 2021

9. A, B, C and D are partners sharing profits and losses in the ratio of 1/3, 1/6, 1/3 and 1/6 respectively. C retires and A, B and D decide to share the profits and losses equally in future. Calculate the gaining ratio.

The solution of Question 9 Chapter 6 - Unimax Class 12 Part 1: -

Old profit sharing ratio = A : B : C : D
= 1/3 : 1/6 : 1/3 : 1/6
 New profit sharing ratio = A : B : D
= 1 : 1 : 1

Calculation of Gaining Ratio

	New Share		Old Share		Difference
A	1		1		1	-	1	=	0	(No Gain)
	3		3		3		3
B	1		1		1	-	1	=	1	(Gain)
	3		6		3		6		6
D	1		1		1	-	1	=	1	(Gain)
	3		6		3		6		6

Gaining ratio of B and D = B : D = 1 : 1

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T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

• Chapter No. 1 - Financial Statement of Not-For-Profit Organisations
• Chapter No. 2 - Accounting for Partnership Firms - Fundamentals
• Chapter No. 3 - Goodwill: Nature and Valuation
• Chapter No. 4 - Change in Profit-Sharing Ratio Among the Existing Partners
• Chapter No. 5 - Admission of a Partner
• Chapter No. 6 - Retirement/Death of a Partner
• Chapter No. 7 - Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 8 - Company Accounts -  Accounting for Share Capital
• Chapter No. 9 - Company Accounts - Issue of Debentures
• Chapter No. 10 - Redemption of Debentures

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 1 - Financial Statements of a Company
• Chapter No. 2 - Financial Statement Analysis 
• Chapter No. 3 - Tools of Financial Statement Analysis - Comparative Statements and Common- Size Statements
• Chapter No. 4 - Accounting Ratios
• Chapter No. 5 - Cash Flow Statement

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication