Question 01 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 01 Chapter 4 of +2- Part-

Question 01 Chapter 4 of +2-Part-1

1. (NPS/ Sacrifice and Gain) A and B were partners in a firm sharing profits in the ratio of 3:2, with effect from 1st January, they agreed to share profits equally. For this purpose, the goodwill of the firm was valued at Rs.30,000. Calculate sacrifice/gain.

 

The solution of Question 01 Chapter 4 of +2 Part-1: – 

Old Ratio of A & B = 3: 2
New Ratio of A & B = 1: 1

Calculate the Sacrificing or Gaining Ratio of Partners

Sacrificing or Gaining Ratio = Old Ratio – New Ratio

A’s Share Sacrificing/Gaining = 3 1
5 2
  = 6 – 5
  10
  = 1 (Sacrifice)
  10

 

A’s Share Sacrificing/Gaining = 2 1
5 2
  = 4 – 5
  10
  = -1 (Gaining)
  10

 

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Chapter No. 1 – Accounting Not for Profit Organisations

Chapter No. 2 – Partnership Accounts – I

Chapter No. 3 – Partnership Accounts – II (Introduction)

Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)

Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)

Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)

Chapter No. 2 – Techniques of Financial Statement Analysis

Chapter No. 3 – Ratio Analysis 

Chapter No. 4 – Cash Flow Statement

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

2 Book 1 min - Question 01 Chapter 4 of +2 Part-1 - USHA Publication  12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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