Question 1 Chapter 4 – Unimax Class 12 Part 1
Table of Contents
1. M and N are two partners sharing profits and losses equally. They agree to share future profits and losses in ratio of 4 : 3. Calculate individual partner’s gain or sacrifice due to change in profit sharing ratio.
The solution of Question 1 Chapter 4 – Unimax Class 12 Part 1:
| Old Share | New Share | Difference |
| M1/2 | 4/7 | 1/2-4/7=[-1/14]Gain |
| N1/2 | 3/7 | 1/2-3/7=1/14 Loss |
M has gained 1/14th share and N has sacrificed 1/14th share.
What is Partnership – Meaning and Its 4 Types
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. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
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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