Question 05 Chapter 5 of +2- Part-

Question 05 Chapter 5 of +2-Part-1

5. (NPS) A and B are partners sharing profit and losses in the proportions of 3:1. they agree to admit C into partnership who is to get 1/8th share. He acquired his share as to 1/32 from A and 3/32 from B . Calculate new profit sharing ratio.

The solution of Question 05 Chapter 5 of +2 Part-1: – 

Calculation of new Profit Sharing ratio

A’s share is1out of which he surrenders1in favor of C
432
A’s New Share=31
432
     
 =24-1  
 32  
     
 =23  
  32  
A’s share is1out of which he surrenders1in favor of C
432
B’s New Share=13
432
     
 =8-3  
 32  
     
 =5  
  32  
Z’s share=1
4
New Profit sharing Ratio=23:5 4
323232
       
 =23:5:4

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 05 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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