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

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

Question 17 Chapter 5 of +2-A

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

 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 = 1 – 1 4
 = 4 – 1 4
 = 3 4

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

 A’s New Ratio = 3 X 3 5 4
 = 9 20

 B’s New Ratio = 2 X 3 5 4

 = 6 20

New profit Share ratio after C admission

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

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 = 1 – 20 100
 = 100 -20 100
 = 80 100

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

 A’s New Ratio = 9 X 80 20 100

 = 72 200

 B’s New Ratio = 6 X 80 20 100
 = 48 200

 C’s New Ratio = 5 X 80 20 100
 = 40 200

New profit Share ratio after D admission

 A : B : C = 72 : 48 : 40 : 20 200 200 200 100
 = 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)

• 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