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Question 03 Chapter 4 of +2-Part-1
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3. (NPS/ Sacrifice and Gain) A, B and C are partners in 3:7:5 ratio. They decided to change their ratio as follows. A gave 1/15 from his share to C. B gave 2/15 from his share to A and 1/15 to C.
Find out new ratio and gain or sacrifice of each partner.
The solution of Question 03 Chapter 4 of +2 Part-1: –
Calculate the A, B, & C New Profit sharing ratio: –
Sacrificing or Gaining Ratio = Old Ratio – New Ratio
| A’s New Share | = | 2 | – | 5 | – | 2 |
| 15 | 15 | 15 |
| = | 3 – 1 + 2 | |
| 15 |
| = | 4 | ||
| 15 |
| B’s New Share | = | 7 | – | 2 | – | 1 |
| 15 | 15 | 15 |
| = | 7 – 2 – 1 | |
| 15 |
| = | 4 | |
| 15 |
| C’s New Share | = | 5 | + | 1 | + | 1 |
| 15 | 15 | 15 |
| = | 5 + 1 + 1 | |
| 15 |
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| = | 7 | |
| 15 |
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New Profit Ratio of A,B, & C = 4 : 4: 7
Calculate the Sacrificing or Gaining Ratio of Partners:
Sacrificing or Gaining Ratio = Old Ratio – New Ratio
| A’s Sacrificing/Gaining Share | = | 3 | – | 4 |
| 15 | 15 |
| = | 3 – 4 | |
| 15 |
| = | -1 | (Gain) | |
| 15 |
| B’s Sacrificing/Gaining Share | = | 7 | – | 4 |
| 15 | 15 |
| = | 7 – 4 | |
| 15 |
| = | -3 | (Sacrifice) | |
| 30 |
| C’s Sacrificing/Gaining Share | = | 5 | – | 7 |
| 15 | 15 |
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| = | 5 – 7 | |
| 15 |
| = | -2 | (Gain) | |
| 15 |
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Comment if you have any questions.
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 (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- 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
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
