Question 06 Chapter 5 of +2- Part-

Question 06 Chapter 5 of +2-Part-1

6. (NPS) X and Y are sharing profit in the ratio of 7:3. they admit C for 3/7 share in the new firm which he takes 2/7 from X and 1/7 from Y. Calculate new profit sharing ratio of partners , after C’s admission.

The solution of Question 06 Chapter 5 of +2 Part-1: – 

Calculation of new Profit Sharing ratio

Old profit sharing of X and Y = 7 : 3

X’s sacrifice for C=2
 7
X’s New Share=12
47
     
 =49 -20  
 70  
     
 =29  
  70  
Y’s sacrifice for C=1
 7
Y’s New Share=31
107
     
 =21 – 10  
 70  
     
 =11  
  70  
C’s share=2+1
77
     
 =3 30
  7Or70
New Profit sharing Ratio=29:11 30

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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 06 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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