Question 15 Chapter 5 of +2- Part-

Question 15 Chapter 5 of +2-Part-1

15. (NPS) X and Y are partners in a firm sharing profits and losses in the ratio of 3:2. They admitted Z into Paternship with 1/8th share in profits. It is decided that X and Y will share profits and losses in future in the ratio of 4:3. Calculate the new profit sharing ratio.

The solution of Question 15 Chapter 5 of +2 Part-1: – 

Calculation of new Profit Sharing ratio

Assuming total profits of the firm=Re 1  
Z’s share=1
8
Remaining share (Joint share of X and Y)=11
8
     
 =7  
 8  
X‘s new share=4x7
78
     
 =4  
  8  
X‘s new share=3x7
78
     
 =3  
  8  
 Z’s share=1
8
Sacrifice Ratio=4:3:1

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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 15 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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