# Question 06 Chapter 5 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question No.06 Chapter No.5 - T.S. Grewal +2 Book 2019-Solution

Question 06 Chapter 5 of +2-A

6. X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. Z is admitted as partner with 1/4 share in profit. Z acquires his share from X and Y in the ratio of 2 : 1.
Calculate new profit-sharing ratio.

The solution of Question 06 Chapter 6 of +2-A

 Old Ratio of X and Y = 3 : 2

Z is admitted for 1/4th Share in Profits
sacrificing Ratio of X and Y is 2 : 1
In this case we have to calculate the sacrificing share of both partners with the following formula and then subtract this share from the profit share of old partners: –

Sacrificing Share of Old Partners = New Partner’s Share X Sacrificed Ratio

 X Sacrificing Share = 1 X 2 4 3
 = 2 12

 Y Sacrificing Share = 1 X 1 4 3
 = 1 12

New Ratio of Old Partners = Old Ratio – Sacrificed Ratio

 X New Profit Share = 3 – 2 5 12
 = 36 – 10 60

 = 26 60

 Y New Profit Share = 2 – 1 5 12
 = 24 – 5 60
 = 19 60

 Z’s Share = 1 X 15 4 15
 = 15 60

 New Profit sharing Ratio between All partners = 26 : 19 : 15

### 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. 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