Question 12 Chapter 5 of +2- Part-

Question 12 Chapter 5 of +2-Part-1

12. (NPS in different cases) A and B are partners in a firm sharing profits and losses in the ratio of 3:2. C joins the firm for a quarter share in the future profits. Ascertain the future profit sharing ratio of partners in each of the following cases :

  1. If he acquires his share of profits from the original partners in their profit sharing ratio.
  2. If he acquires his share of profits from the original partners equally.
  3. If he acquires his share of profits from the original partners in the ratio of 2:3.

The solution of Question 12 Chapter 5 of +2 Part-1: – 

Calculation of new Profit Sharing ratio

Let total profits of the firm=Re 1  
C’s share=1
4
Balance of profit=11
4
 =3  
 4  
A’s Share=3x3
45
     
 =9  
 20  
B’s Share=3x2
45
     
 =6  
  20  
C’s Share=1or5
420
New Profit sharing Ratio=9:6:5

(b)

C’s share=1
4
A’s sacrifice=1x1
42
     
 =1  
 8  
B’s sacrifice=1x1
42
     
 =1  
 8  

New Share = Old share – Sacrifice

A’s new Share=31
58
     
 =19  
  40  
B’s new Share=21
58
     
 =11  
  40  
C’s Share=1or10
440
New Ratio=19:11:10
404040
       
 =19:11:10

(c)

C’s share=1
4
A’s sacrifice=1x2
45
     
 =2  
 20  
A’s sacrifice=1x3
45
     
 =3  
 20  
A’s new Share=32
520
     
 =10  
  20  
B’s new Share=22
520
     
 =5  
  20  
C’s Share=1or5
420
New Ratio=10:5:5
202020
       
 =10:5:5

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 12 Chapter 5 of +2 Part-1 - USHA Publication  12 Class Parat - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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