Question 01 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Parat – 1

Question 01 Chapter 5 of +2- Part-

Question 01 Chapter 5 of +2-Part-1

01. (NPS) X and Y are partners in 8:5 ratio. Z is admitted for 1/5th share. Find out the new ratio.

 

The solution of Question 01 Chapter 5 of +2 Part-1: – 

Old Ratio of X and Y = 8 : 5
Z is admitted for 1/5 share of profit    

Let the total share of the business = 1

Remaining share of X & Y after Z’s Admission = Total Share – Z’s Share

Remaining share = 1 1
5
  = 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 and Y x Old Ratio


X’s New Ratio = 4 X 8
5 13
  = 32  
  65

 

Y’s New Ratio = 4 X 5
5 13
  = 20
  65

 

Z’s New Ratio = 1 X 13
5 13
  = 13
  65

New Profit sharing Ratio between X, Y and Z = 32: 20: 13

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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 5 of +2 Part-1 - USHA Publication  12 Class Parat - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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