Question 16 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 5 of +2- Part-

Question 16 Chapter 5 of +2-Part-1

16. (Different cases of NPS)
(i)Singh and Pandit are partners in a 4:1 ratio. They admitted Maulavi as a partner. The net profit ratio is 5:3:2. Find out the Gaining and sacrifice ratio of old partners.
(ii) Flower and plants are partners sharing profits of 60 paise and 40 paise in a rupee. Thorn is a new partner admitted. The following is the arrangement for sharing profits.

Flower Plant Thorn Reserve
2/10 5/10 2/10 1/10

Find out sacrifice or gain.

The solution of Question 16 Chapter 5 of +2 Part-1: – 

(i) Calculation of gaining and sacrifice ratio

Gain (/Sacrifice) of Singh = 4 5
5 10
         
  = 3   Sacrifice
  10  
Gain (/Sacrifice) of Pandit = 1 3
5 10
         
  = 1   Gain
    10  

So Singh sacrificed 3/10 but pandit gained 1/10 share.

(ii) Calculation of gaining and sacrifice ratio

Old profit sharing ratio of flower and plant 60:40 or 2 : 2 . New Profit sharing ratio
5 5
Flower 2 Plant 5 Plant 2 After transferring 1 After transferring
9 9 9 10
Plant’s sacrifice = 2 (40%) 5
5 9
           
  = 7     Gain
  45    
Flower’s sacrifice = 17
45
Plant’s sacrifice = 7
45

Sacrifice = Old share – New share

Flower’s Sacrifice = 3 2
5 9
         
  = 17   Sacrifice
  45  
Plant’s Sacrifice/ Gain = 2 5
5 9
         
  = 7   Gain
  45  

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

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