Question 11 Chapter 6 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 11 Chapter 6 of +2-A

Question 11 Chapter 6 of +2-A

11. Murli, Naveen and Omprakash are partners sharing profits in the ratio of 3/8, 1/2 and 1/8. Murli retires and surrenders 2/3rd of his share in favour of Naveen and remaining share in favour of Omprakash. Calculate new profit-sharing ratio and gaining ratio of the remaining partners.

 

The solution of Question 11 Chapter 6 of +2-A: –

 

Old Ratio = 3:4:1

Murli’s share = 8
8

 

 

Share acquired by Naveen = 3 X 3
8 3
  = 8
  8

 

Remaining Share = 3 2
8 8
  = 1
  8

Gaining Ratio= 2: 1

Naveen’s New Share = 4 + 2
8 8
  = 4 + 2
8
  = 6
  8

 

Omprakash’s New Share = 1 + 1
8 8
  = 1 + 1
8
  = 2
  8

New Profit Sharing Ratio = 3: 1

 

 

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 11 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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