Question 18 Chapter 5 of +2-A
18. P and Q are partners sharing profits in the ratio of 3 : 2. They admit R into partnership who acquires 1/5th of his share from P and 4/25th share from Q. Calculate New Profit-sharing Ratio and Sacrificing Ratio.
The solution of Question 18 Chapter 6 of +2-A
| Old Ratio of X and Y | = | 3 : 2 |
| R acquires 1/5th of his share from P | ||
| R acquires 4/25th share from Q |
Note: – In the Question R acquires 1/5 of his from P but 4/25th share from Q So, here we have on ratio and another is value of share so first we to calculate the Ratio and Share acquires from both.
If 4/5th of R’s Share = 4/25th Acquires from Q
| R’s Share | = | 4 | = | 4 |
| 5 | 25 |
| A’s New Ratio | = | 4 | X | 4 |
| 5 | 25 |
| = | 1 | |
| 5 |
This is Ratio of share in which R will Acquired share from Q
Share Acquired by R from P = 1/5 X 1/5
| Share Acquired by R from P | = | 1 | X | 1 |
| 5 | 5 |
| = | 1 | |
|
| 25 |
This is value of share which is acquired by R from P’s Share.
| So, R acquired share from P and Q | = | 1 | : | 4 |
| 25 | 25 | |||
| Sacrificing Ratio of P and Q | = | 1 | : | 4 |
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New Ratio of Old Partners = Old Ratio – Sacrificed Ratio
| P’s New Profit Share | = | 3 | – | 1 |
| 5 | 25 |
| = | 15 – 1 | |
| 25 |
| = | 14 | |
| 25 |
| Q’s New Profit Share | = | 2 | X | 4 |
| 5 | 52 |
| = | 10 – 4 | |
| 25 |
| = | 6 | |
| 25 |
| P’s Sacrificing | Q’s Sacrificing | |||
| R’s Share | = | 1 | X | 4 |
| 25 | 25 |
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| = | 5 | |
| 25 |
New profit Share ratio after D admission
| New Profit sharing Ratio between All partners | = | 14 | : | 6 | : | 5 |
| 25 | 25 | 25 |
| = | 14 : 6 : 5 |
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
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
