Question 11 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 11 Chapter 6 of +2-Part-1

11.(NPS/Gaining Ratio) X , Y and Z are sharing profit in the ratio of 9 : 7 : 4. Y retires. Amount due to Y on retirement on account of goodwill, was calculated to be Rs. 42,000.
Calculate new and gaining ratio if

1. X contributes Rs. 24,000 and Z Rs.18,000 to payout Y.
2. X contributes Rs. 12,000 and Z Rs. 30,000 to payout Y.

The solution of Question 11 Chapter 6 of +2 Part-1: –

Calculation of Gaining ratio

Goodwill payable to Y = Rs 42,000

Amount contributes by X & Z to Y on his retirement is Rs. 24,000 & Rs. 18,000
respectively , i.e. , in the ratio 4 : 3
Thus Y’s share has been bought by X & Y in the ratio 4 : 3 ‘ i.e. , gaining ratio
X’s New share = Old share + Gain

New Profit Sharing ratio = 13 : 7

Amount contributes by X & Z to Y on his retirement is ₹ 12,000 and ₹ 30,000 respectively

Gaining Ratio of X and Z = ₹ 12,000 : ₹ 30,000

Gaining Ratio = 2 : 5

Goodwill payable to Y =  Rs 42,000
Thus Y’s share has been bought by X & Y in the ratio 2: 5 ‘ i.e., gaining ratio

New Profit Sharing ratio of X and Z = 11 : 9

Comment if you have any questions.

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End of Solution

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Chapter-Wise Solution of Usha Publication Accountancy – Part 1 Class 12 – Session 2024-25 as per the PSEB curriculum

Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 1 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.

Chapter No. 1 – Accounting Not-for-Profit Organisations (Deleted from the Syllabus)

Chapter No. 2 – Partnership Accounts – I (Introduction)

Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)

Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)

Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)

Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 1 Class 12 by Unimax Publication

• Chapter No. 1 – Accounts of Non-Profit Organisations (Deleted from the Syllabus)
• Chapter No. 2 – Partnership Accounts – I (Basic Concepts)
• Chapter No. 3 – Partnership Accounts – II (Goodwill)
• Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

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1. Accountancy – Part 2 Class 12 – Session 2024-25 By Usha Publication

Accountancy – Part 2 Class 12 – Session 2024-25 – Solution for free

2. Advanced Accountancy Part 2 Class 12 by Unimax Publication

Advanced Accountancy II Part 2 Class 12 – Solution for free