Question 06 Chapter 6 of +2-Part-1
6. (Different Cases of NPS) X, Y and Z are partners sharing profits and losses in the ratio of ½ : 3/10 : 1/5.Calculate the new profit sharing ratio and gaining ratio (a) if X retires (b) if Y retires (c) if Z retires.
The solution of Question 06 Chapter 6 of +2 Part-1: –
(a) If X retires
| Old Profit Sharing Ratio | = | 1 | : | 3 | : | 1 |
| 2 | 10 | 5 |
| Rearranging the ratio to common denominator 10 the ratio is | = | 5 | : | 3 | : | 2 |
| 10 | 10 | 10 |
(a) On X’s retirement his 5/10 share will be distributed among Y & Z in their
relative ratio , i.e., 3 : 2
New Profit sharing Ratio of Y & Z = 3 : 2
Gaining ratio = New share – old share
| Y’s gain | = | 3 | – | 3 |
| 5 | 10 | |||
| = | 3 | |||
| 10 |
| Z’s gain | = | 2 | – | 2 |
| 5 | 10 | |||
| = | 2 | |||
| 10 |
Gaining ratio = 3 : 2
(b) If Y retires
On Y’s retirement his 3/10 share will be distributed among X & Z in their relative ratio , i.e., 5 : 2
New Profit sharing Ratio of X & Z = 5 : 2
Gaining ratio = New share – old share
| X’s gain | = | 5 | – | 5 |
| 7 | 10 | |||
| = | 15 | |||
| 70 |
| Z’s gain | = | 2 | – | 2 |
| 7 | 10 | |||
| = | 6 | |||
| 70 |
| Gaining ratio | = | 15 | : | 6 |
| = | 5 | : | 2 |
(c) If Z retires
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On Z’s retirement his 2/10 share will be distributed among X & Y in their relative ratio
Old Profit Sharing Ratio = 5 : 3 : 2
Strike out share of Z from Old Profit sharing ratio = 5 : 3
Gaining ratio = New share – old share
| X’s gain | = | 5 | – | 5 |
| 8 | 10 | |||
| = | 10 | |||
| 80 |
| Y’s gain | = | 3 | – | 3 |
| 8 | 10 | |||
| = | 6 | |||
| 80 |
| Gaining ratio | = | 10 | : | 6 |
| = | 5 | : | 3 |
Comment if you have any questions.
End of Solution
Check Out the Solution of all questions of this chapter:
The solution to all questions of Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.
Question 57 Chapter 6 of +2 Part- 1 – USHA Publication
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Chapter-Wise Solution of Usha Publication Accountancy – Part 1 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 1 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
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Chapter No. 1 – Accounting Not-for-Profit Organisations (Deleted from the Syllabus)
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)
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 1 Class 12 by Unimax Publication
- Chapter No. 1 – Accounts of Non-Profit Organisations (Deleted from the Syllabus)
- Chapter No. 2 – Partnership Accounts – I (Basic Concepts)
- Chapter No. 3 – Partnership Accounts – II (Goodwill)
- Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)
- 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)
Check out Part 2 of both books.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 2, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 2 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 2 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 2 Class 12 by Unimax Publication
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