Question 02 Chapter 4 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 02 Chapter 4 of +2-A

Question 02 Chapter 4 of +2-A

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
  = 2 – 3
  10
  = -1 Gain
  10

 

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)

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 - Question 02 Chapter 4 of +2-A - T.S. Grewal 12 Class Part - A Vol. 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.