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Question 19 Chapter 3 of Class 12 Part – 1 VK Publication

Question 19 Chapter 3 of Class 12 Part - 1 VK Publication
Question 19 Chapter 3 of Class 12 Part - 1 VK Publication

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Question 19 Chapter 3 of Class 12 Part – 1

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19. Javed and Salim share profits and losses in the ratio of 3:2. With effect from 1st April, 2018 they agreed to share profits equally. Calculate sacrificing or gaining share.
annual subscription of Rs. 50.

The solution of Question 19 Chapter 3 of Class 12 Part – 1: –

Old Ratio of Javed and Salim= 3:2
New Ratio of Javed and Salim= 1:1
Sacrificing Share = Old Share – New Share

Javed=31
52
 =5 – 5
 10
 =1(Sacrifice)
 10

 

Salim=21
52
 =4 – 5
 10
 =-1(Gaining)
 10

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Salim has gained 1/10 th share, Javed has sacrificed 1/10 th share

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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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