# Question 08 Chapter 6 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question No.08 Chapter No.6 - T.S. Grewal +2 Book 2019-Solution

Question 08 Chapter 6 of +2-A

08. A, B, and C were partners in a firm sharing profits in the ratio of 8 : 4 : 3. B retires and his share is taken up equally by A and C. Find the new profit-sharing ratio

## The solution of Question 08 Chapter 6 of +2-A: –

Old Ratio A, B and C = 8 : 4 : 3
B retires from the firm

 His profit share = 4 15

B’s share taken by A and C in ratio of 1 : 1

 Share taken by A = 4 X 1 15 2
 = 2 30

 Share taken by C = 4 X 1 15 2
 = 2 30

New Ratio = Old Ratio + Share acquired from B

 A’s New Share = 8 + 2 15 15
 = 8 + 2 15

 = 10 15

 C’s New Share = 3 + 2 15 15
 = 3 + 2 15
 = 5 15

∴ New Profit Ratio A and C = 10 : 5

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