Question 19 Chapter 5 – Unimax Class 12 Part 1 – 2021
19. A and B were partners in a firm sharing profits in 3 : 2. On 1st April, 2020 they admitted C as a new partner for 1/4th share. On 1st April, 2021, D was admitted as a new partner for 1/5th share which he acquired equally form A, B and C. Calculate the new profit sharing ratio.
The solution of Question 19 Chapter 5 – Unimax Class 12 Part 1
Let total profit = 1
C’s Share =1/4
Remaining Profit = 1 -1/4 =4-1/4 =3/4
A’s new share =3/5 X 3/4 =9/20
B’s new share =2/5 X 3/4 =6/9
New profit sharing ratio = A : B : C
=9/20: 6/20:1/4
= 9 : 6 : 5 Ans.
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
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication