Question 11 Chapter 5 – Unimax Class 12 Part 1
11. A, B, C and D are in partnership sharing profits and losses in the ratio of 36 : 24 : 20 : 20 respectively. E joins the firm for 20% share. A, B, C and D would share profits in future among themselves as 3/10 : 4/10 : 2/10 : 1/10. Calculate the new profit sharing ratio after E’s admission.
The solution of Question 11 Chapter 5 – Unimax Class 12 Part 1
Let Total profit = 1
E’s Share =20%/100% =5/6
Remaining Profit = 1 -1/5 =5-1/5 =4/5
A’s new share =3/10 X 4/5 =6/25
B’s new share =4/10 X 4/5 =8/25
C’s new share =2/10 X 4/5 =4/25
D’s new share =1/10 X 4/5 =2/25
E’s share =1/5
New Profit Sharing Ratio = A : B : C : D : E
=6/25: 8/25: 4/25: 2/25: 1/5
= 6 : 8 : 4 : 2 : 5 Ans.
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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