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.
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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
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