Question 18 Chapter 5 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 18 Chapter 5 of +2-A

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

 

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
  = 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)

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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2 Book 1 min - Question 18 Chapter 5 of +2-A - T.S. Grewal 12 Class Part - A Vol. 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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