Question 02 Chapter 4 of +2-A - T.S. Grewal 12 Class Part

Question 02 Chapter 4 of +2-A

Table of Contents

The solution of Question 02 Chapter 4 of +2-A:

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

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

2. X, Y and Z are sharing profits and losses in the ratio of 5 : 3 : 2. With effect
from 1st April, 2019, they decide to share profits and losses in the ratio of
5 : 2 : 3. Calculate each partner’s gain or sacrifice due to the change in ratio.

The solution of Question 02 Chapter 4 of +2-A:

Old Ratio of X, Y, & Z	=	5 : 3 : 2
New Ratio of X, Y, & Z	=	5 : 2 : 3

Calculate the Sacrificing or Gaining Ratio of Partners
Sacrificing or Gaining Ratio = Old Ratio – New Ratio

X’s Share Sacrificing/Gaining	=	5	–	5
		10		10

	=	5 -5
	=	10

	=	Nil

Y’s Share Sacrificing/Gaining	=	3	–	2
		10		10

	=	3 – 2
	=	10

	=	1	Sacrificing
		10

Y’s Share Sacrificing/Gaining	=	2	–	3
		10		10

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	=	2 – 3
	=	10

	=	-1	Gain
		10

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Sacrificing Share of Y	=	1
		10

Gaining Share of Z	=	1
		10

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

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