# Question 07 Chapter 6 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question No.07 Chapter No.6 - T.S. Grewal +2 Book 2019-Solution

Question 07 Chapter 6 of +2-A

07. Kumar, Lakshya, Manoj and Naresh are partners sharing profits in the ratio of 3 : 2 : 1 : 4. Kumar retires and his share is acquired by Lakshya and Manoj in the ratio of 3 : 2. Calculate new profit-sharing ratio and gaining ratio of the remaining partners.

## The solution of Question 07 Chapter 6 of +2-A: –

 Kumar’s share = 3 10

 Share acquired by Lakshya = 3 X 3 10 5
 = 9 50

 Share acquired by Manoj = 3 X 2 10 5
 = 6 50

 Lakshya’s New Share = 2 + 9 10 50
 = 10 + 9 50

 = 19 50

 Manoj’s New Share = 1 + 6 10 50
 = 5 + 6 50
 = 11 50

 Naresh’s share as retained = 4 or 20 10 50

New Profit Sharing Ratio = 19: 11: 20

Gaining Ratio = 3:2 as given in the question

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