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Question 08 Chapter 5 of +2-Part-1
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8. (NPS in different cases) Calculate the new ratios of partners in the following cases :
- 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.
- 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.
We are providing a solution of Question 11 Chapter 5 of +2 Part-1 in two formats. one is in Video format and another is in article format. Check out both formats as follows:
1. Check out the Solution of this question in Video Format:-
The video consists solution of question numbers from 1 to 11 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 08 from the flowing video by using time stamps of the video.
2. Check out the Solution of this question in Article Format:-
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 | = | 7 | – | 1 |
12 | 24 | |||
= | 14 – 1 | |||
24 | ||||
= | 13 | |||
24 |
Share acquired from B | = | 1 |
8 |
B’s new Share | = | 5 | – | 1 |
12 | 8 | |||
= | 10 – 3 | |||
24 | ||||
= | 7 | |||
24 |
C’s new Share | = | 1 | + | 1 |
24 | 8 | |||
= | 1 + 3 | |||
24 | ||||
= | 4 | |||
24 |
New Profit sharing Ratio | = | 13 | : | 7 | : | 4 |
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(ii) Calculation of new Profit Sharing ratio
C’s share of profit = Sacrifice made by A and B
A’s sacrifice for roman C | = | 1 | of | 3 |
5 | 5 | |||
= | 1 | X | 3 | |
5 | 5 | |||
= | 3 | |||
25 |
A’s new Share | = | 3 | – | 3 |
5 | 25 | |||
= | 15 – 3 | |||
25 | ||||
= | 12 | |||
25 |
B’s sacrifice for roman C | = | 2 | of | 2 |
5 | 5 | |||
= | 2 | X | 2 | |
5 | 5 | |||
= | 4 | |||
25 |
B’s new Share | = | 2 | – | 4 |
5 | 25 | |||
= | 10 – 4 | |||
25 | ||||
= | 6 | |||
25 |
C’s new Share | = | 3 | + | 4 |
25 | 25 | |||
= | 3 + 4 | |||
25 | ||||
= | 7 | |||
25 |
New Profit sharing Ratio | = | 12 | : | 6 | : | 7 |
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Check out all questions of this chapter as follows:-
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Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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