Question 15 Chapter 5 – Unimax Class 12 Part 1
Table of Contents
15. A and B are partners sharing profits in 9 : 5. They agree to admit C as their manager into partnership, who is to get 1/8th share in profits. He acquires this share 1/12th form A and 1/24th form B. Calculate new profit sharing ratio.
The solution of Question 15 Chapter 5 – Unimax Class 12 Part 1
A’s New Share =9/14_1/12
=54-7/84 47/84
B’s New Share =5/14_1/4 =60-7/168 =53168
C’s Share =1/8
New Profit Sharing Ratio = A : B : C
=47/84: 53/168: 1/8
= 94 : 53 : 21 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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