# Question 08 Chapter 5 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question No.08 Chapter No.5 - T.S. Grewal +2 Book 2019-Solution

Question 08 Chapter 5 of +2-A

8. Kabir and Farid are partners in a firm sharing profits and losses in the ratio of 7 : 3. Kabir surrenders 2/10th from his share and Farid surrenders 1/10th from his share in favour of Jyoti; the new partner. Calculate new profit-sharing ratio and sacrificing ratio.

The solution of Question 08 Chapter 6 of +2-A

 Old Ratio of R and S = 7 : 3 Kabir Sacrifice from his share in the favour of Jyoti = 2/10th Farid Sacrifice from his share in the favour of Jyoti = 1/10th

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

 Kabir New Share = 7 – 2 10 10
 = 5 10

 Farid New Share = 3 – 1 10 10
 = 2 10

 Jyoti’s Share = 2 + 1 10 10
 = 2 + 1 10

 = 3 10
 New Profit sharing Ratio between All partners = 5 : 3 : 2

### 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