Question 05 Chapter 6 of +2-A
Table of Contents
05. X, Y and Z are partners sharing profits in the ratio of 1/2, 3/10, and 1/5. Calculate the gaining ratio of remaining partners when Y retires from the firm.
The solution of Question 05 Chapter 6 of +2-A: –
| Old Ratio A, B and C | = | 1 | : | 3 | : | 1 |
| 2 | 10 | 5 |
New Ratio after Y’s retirement = 5 : 2
Gaining Share = New Share – Old Share
| X’s Gain | = | 5 | – | 5 |
| 7 | 10 |
| = | 50 – 35 | |
| 70 |
| = | 15 | |
| 70 |
| Z’s Gain | = | 2 | – | 2 |
| 7 | 10 |
| = | 20 – 14 | |
| 70 |
| = | 6 | |
| 70 |
∴Gaining Ratio = 15 : 6 or 5: 2
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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