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

Question 08 Chapter 6 of +2-A

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)

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

 

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2 Book 1 min - Question 08 Chapter 6 of +2-A - T.S. Grewal 12 Class Part - A Vol. 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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