Question 10 Chapter 6 of +2-A
Table of Contents
10. P, Q and R are partners sharing profits in the ratio of 7 : 5 : 3. P retires and it is decided that profit-sharing ratio between Q and R will be same as existing between P and Q. Calculate New profit-sharing ratio and Gaining Ratio.
The solution of Question 10 Chapter 6 of +2-A: –
Calculation of Gaining Ratio
P :Q :R = 7:5:3(Old ratio)
Q :R=7:5 (New ratio, same as between P & Q)
Gaining Ratio = New Ratio – Old Ratio
| Q’s Gain | = | 7 | – | 5 |
| 12 | 15 |
| = | 35 – 20 | |
| 60 |
| = | 15 | |
| 60 |
| R’s Gain | = | 5 | – | 3 |
| 12 | 15 |
| = | 25 – 12 | |
| 60 |
| = | 13 | |
| 60 |
Q :R = 15: 13
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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