Question 08 Chapter 5 of +2- Part-

Question 08 Chapter 5 of +2-Part-1

8. (NPS in different cases) Calculate the new ratios of partners in the following cases :

  1. A and B are partners sharing profits and losses in the proportion of 7:5. They agree to admit C their manager into partnership who is to get size 1/6th in the profits. He acquires this share as 1/24 from A and 1/ 8 from B.
  2. A and B are partners in firms sharing profit and losses in the ratio of 3:2. A new partner C is admitted. A surrenders 1/5th share of his profit in favor of C and B 2/5th of his share in favor of C.

The solution of Question 08 Chapter 5 of +2 Part-1: – 

Calculation of new Profit Sharing ratio

C’s share of profit=1
 6
Share acquired from A=1
24
   
A’s New Share=71
1224
     
 =14 – 1  
 24  
     
 =13  
  24  
Share acquired from B=1
8
B’s new Share=51
128
     
 =10 – 3  
 24  
     
 =7  
  24  
C’s new Share=1+1
248
     
 =1 + 3  
 24  
     
 =4  
  24  
New Profit sharing Ratio=13:7:4

(ii) Calculation of new Profit Sharing ratio
C’s share of profit = Sacrifice made by A and B

A’s sacrifice for roman C=1of3
55
     
 =1X3
 55
     
 =3  
  25  
A’s new Share=33
525
     
 =15 – 3  
 25  
     
 =12  
  25  
B’s sacrifice for roman C=2of2
55
     
 =2X2
 55
     
 =4  
  25  
B’s new Share=24
525
     
 =10 – 4  
 25  
     
 =6  
  25  
C’s new Share=3+4
2525
     
 =3 + 4  
 25  
     
 =7  
  25  
New Profit sharing Ratio=12:6:7

 

 

 

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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

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

2 Book 1 min - Question 08 Chapter 5 of +2 Part-1 - USHA Publication  12 Class Parat - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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