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Question 01 Chapter 5 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 01 Chapter 5 of +2-A
Question No.01 Chapter No.5 - T.S. Grewal +2 Book 2019-Solution

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Question 01 Chapter 5 of +2-A

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1. X,Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. They admit A into partnership and give him 1/5th share of profits. Find the new profit-sharing ratio.

The solution of Question 01 Chapter 5 of +2-A

Old Ratio of X, & Y=5 : 3 : 3   
A is admitted for 1/5 share of profit  

Let the total share of the business = 1
Remaining share of X,Y & Z after A’s Admission = Total Share – A’s Share

Remaining share=1 –1
4
 =5 – 1
 5
 =4 
 5

To Calculate to New Ratio distribute the remaining share in the old ratio of old partners’
New Ratio = Combined share of X, Y and Z X Old Ratio

X’s New Ratio=4X-5
510
 =20 
 50

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Y’s New Ratio=4 X3
510

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 =12 
 50

 

Z’s New Ratio=5X2
1010
 =8 
 50

 

A’s New Ratio=1X10
510
 =10
 50

 

New Profit sharing Ratio between X, Y, Z, and A =20 : 12 : 8 : 10
 =10:   6 :  4 :   5

 

 

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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)

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

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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