Question 03 Chapter 4 of +2-A - T.S. Grewal 12 Class Part

Question 03 Chapter 4 of +2-A

Table of Contents

The solution of Question 03 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)

3. 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 equally. Calculate each partner’s gain or sacrifice due to the change in ratio.

The solution of Question 03 Chapter 4 of +2-A:

Old Ratio of X, Y, & Z	=	5 : 3 : 2
New Ratio of X, Y, & Z	=	1 : 1 : 1

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

X’s Share Sacrificing/Gaining	=	5	–	1
		10		3

	=	15 -10
	=	30

	=	5	Sacrificing
		30

Y’s Share Sacrificing/Gaining	=	3	–	1
		10		3

	=	9- 10
	=	30

	=	-1	Gaining
		10

Y’s Share Sacrificing/Gaining	=	2	–	1
		10		3

Advertisement-Y

	=	6 – 10
	=	30

	=	-4	Gain
		10

Advertisement-X

Sacrificing Share of X	=	5
		30

Sacrificing Share of Y	=	1
		30

Gaining Share of Z	=	4
		30

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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