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Question 21 Chapter 3 of Class 12 Part – 1 VK Publication

Question 21 Chapter 3 of Class 12 Part - 1 VK Publication
Question 21 Chapter 3 of Class 12 Part - 1 VK Publication

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Question 21 Chapter 3 of Class 12 Part – 1

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21. M, N and O were partners sharing profits in the ratio 2:3:4. With effect from 1st April,2018 they agreed to share profits in the ratio 1:2:3. Calculate each partner’s gain or sacrifice due to change in ratio.

The solution of Question 21 Chapter 3 of Class 12 Part – 1: –

Old Ratio of M, N and O = 2:3:4
New Ratio of M, N and O = 1:2:3
Sacrificing Ratio = Old Share – New Share

M=21
96
 =4 – 3
 18
 =1(Sacrifice)
 18

 

N=32
96
 =6-6
 18
 =0(Nil)
 18
O=43
96
 =9 – 9
 18

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 =-1(Gaining)
 18

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M has sacrificed 1/18 th share and O has gained 1/18 th share; No change in N’s 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

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Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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