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Question 17 Chapter 5 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 17 Chapter 5 of +2-A
Question No.17 Chapter No.5 - T.S. Grewal +2 Book 2019-Solution

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Question 17 Chapter 5 of +2-A

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17. A and B are in partnership sharing profits and losses as 3 : 2. C is admitted for 1/4th share. Afterwards D enters for 20 paise in the rupee. Compute profit-sharing ratio of A, B, C and D after D’s admission

 

The solution of Question 17 Chapter 6 of +2-A

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Old Ratio of A and B=3 : 2

 

C’s admitted for 1/4 share of profit
Let the combined share of profit of all partners be = 1
Combined share of A and B after C’s admission = 1 − C’s share


Remaining share=11
4
 =4 – 1
4
 =3
 4


New Ratio = Old Ratio × Combined share of A and B

A’s New Ratio=3X3
54
 =9 
 20

 

B’s New Ratio=2X3
54

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 =6
 20

New profit Share ratio after C admission

A : B : C=9:6:1
20204
 =9 : 6 : 4
20
 =9 : 6 : 4

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Profit sharing ratio after C’s admission will become old ratio to determine the ratio after D’s admission

Old Ratio of A , B and C=9 : 6 : 5

D’s admitted for 20/100 share of profit

Let the combined share of profit of all partners be = 1
Combined share of A and B after C’s admission = 1 − D’s share

Remaining share=120
100
 =100 -20
100
 =80
 100

 

New Ratio = Old Ratio × Combined share of A, B, and C

A’s New Ratio=9X80
20100

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 =72
 200

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B’s New Ratio=6X80
20100
 =48
 200

 

C’s New Ratio=5X80
20100
 =40
 200

New profit Share ratio after D admission

A : B : C=72:48:40:20
200200200100
 =72 : 48 : 40 40
200
 =72 : 48 : 40 : 40

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)

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

 

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

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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