Question 18 Chapter 5 – Unimax Class 12 Part 1 – 2021

Question 18 Chapter 5 – Unimax Class 12 Part 1 – 2021

18. A, B and C are partners sharing profits and losses in the ratio 3 : 2 : 1. Upon admission of D, they agreed to share as 4 : 4 : 2 : 2. Calculate sacrificing ratio.

The solution of Question 18 Chapter 5 – Unimax Class 12 Part 1

A’s Sacrifice =3/6_4/12
          =6-4/12 =1/6
B’s Sacrifice =2/6_4/12 =4-4/12 =0
C’s Share =1/6_2/12 =2-2/12 =0
Ans. Only A has sacrificed 1/6th of his share.

What is Partnership – Meaning and Its 4 Types

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

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