Q 5 CH 6 Usha 2 Book 2018 Solution min - Question 05 Chapter 6 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 05 Chapter 6 of +2-Part-1

5. (Different Cases of NPS) A. B and C were partners in 9:6 5. C retired and amount due to him on retirement was 80.000. Calculate new ratio if :
(i) A contributed Rs. 20,000 and B Rs. 60,000.
(ii) A and B contributed Rs. 40,000 each

The solution of Question 05 Chapter 6 of +2 Part-1: –

Calculation of new Profit Sharing ratio

Contribution made by A & B is Rs. 20,000 & Rs. 60,000 respectively .

Gaining ratio = 20,000 : 60,0000 = 1 : 3

A’s gain=1x5
420
     
 =1  
 16  
& B’s gain=3x5
420
     
 =3  
 16  
Thus A’s New Share=9+1
2016
     
 =41  
 80  
And B’s New Share=6x3
2016
     
 =39  
 80  
So, New Profit sharing Ratio =41:39
8080
     
 =41:39

(ii) Contribution made by A & B is Rs. 40,000 (each ).

Gaining ratio = 1 : 1

A’s gain=1x5
220
     
 =1  
 8  
& B’s gain=1x5
220
     
 =1  
 8  
Thus A’s New Share=1+9
820
     
 =23  
 40  
And B’s New Share=1x6
820
     
 =17  
 40  
So, New Profit sharing Ratio =23:17
4040
     
 =23:17

Comment if you have any questions.

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 6 of +2 Part-1 - USHA Publication 12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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