Question 05 Chapter 6 of +2-Part-1
Table of Contents
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 | = | 1 | x | 5 |
| 4 | 20 | |||
| = | 1 | |||
| 16 |
| & B’s gain | = | 3 | x | 5 |
| 4 | 20 | |||
| = | 3 | |||
| 16 |
| Thus A’s New Share | = | 9 | + | 1 |
| 20 | 16 | |||
| = | 41 | |||
| 80 |
| And B’s New Share | = | 6 | x | 3 |
| 20 | 16 | |||
| = | 39 | |||
| 80 |
| So, New Profit sharing Ratio | = | 41 | : | 39 |
| 80 | 80 | |||
| = | 41 | : | 39 |
(ii) Contribution made by A & B is Rs. 40,000 (each ).
Gaining ratio = 1 : 1
| A’s gain | = | 1 | x | 5 |
| 2 | 20 | |||
| = | 1 | |||
| 8 |
| & B’s gain | = | 1 | x | 5 |
| 2 | 20 | |||
| = | 1 | |||
| 8 |
| Thus A’s New Share | = | 1 | + | 9 |
| 8 | 20 | |||
| = | 23 | |||
| 40 |
| And B’s New Share | = | 1 | x | 6 |
| 8 | 20 | |||
| = | 17 | |||
| 40 |
| So, New Profit sharing Ratio | = | 23 | : | 17 |
| 40 | 40 | |||
| = | 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
- 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
