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Question 06 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 06 Chapter 6 of +2- Part-
Q-6 - CH-6 - Usha +2 Book 2018 - Solution

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Question 06 Chapter 6 of +2-Part-1

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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

A’s gain=1:3:1
2105
Rearranging the ratio to common denominator 10 the ratio is=5:3:2
101010

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

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Gaining ratio = New share – old share

Y’s gain=33
510
     
 =3  
 10  
Z’s gain=22
510
     
 =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=55
710
     
 =15  
 70  
Z’s gain=22
710
     
 =6  
 70  
Gaining ratio=5:6

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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

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Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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