Question 2 Chapter 6 - Unimax Class 12 Part 1

Question 2 Chapter 6 – Unimax Class 12 Part 1 – 2021

Table of Contents

The solution of Question 2 Chapter 6 – Unimax Class 12 Part 1: –

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

2. P, Q, R and S are partners sharing profits and losses in 5 : 4 : 3 : 2. Calculate new profit sharing ratio between P and R, if Q and S retire from firm.

The solution of Question 2 Chapter 6 – Unimax Class 12 Part 1: –

Calculation of new profit sharing ratio :

Old Profit Sharing Ratio = P : Q : R : S = 5 : 4 : 3 : 2
New profit sharing ratio = P : R
(If Q and S retire) = 5 : 3
Note : If nothing else has been mentioned in the question, after the retirement of Q an S, P and R will share future profits between themselves in same ratio.