# Question 07 Chapter 5 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question No.07 Chapter No.5 - T.S. Grewal +2 Book 2019-Solution

Question 07 Chapter 5 of +2-A

7. R and S are partners sharing profits in the ratio of 5 : 3. T joins the firm as a new partner. R gives 1/4th of his share and S gives 1/5th of his share to the new partner. Find out new profit sharing ratio.

The solution of Question 07 Chapter 6 of +2-A

 Old Ratio of R and S = 5 : 3 R Sacrifice his share in the favour of D = 1/4th S Sacrifice his share in the favour of D = 1/5th

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

 R Sacrificing Share = 5 X 1 8 4
 = 5 32

 S Sacrificing Share = 3 X 1 8 5
 = 3 40

New Ratio of Old Partners = Old Ratio – Sacrificed Ratio

 R New Profit Share = 5 – 5 8 32
 = 20 – 5 32

 = 15 32

 Y New Profit Share = 3 – 3 8 40
 = 15 – 3 40
 = 12 40
 T’s Share = R’s Sacrificing +S’s Sacrificing
 T’s Share = 5 + 3 32 40
 = 25 + 12 160
 = 37 160

 New Profit sharing Ratio between All partners = 15 : 12 : 37 32 40 160
 = 75 : 48 : 37 160 = 75 : 48 : 37

### 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