Question 3 Chapter 5 – Unimax Class 12 Part 1 – 2021

Question 3 Chapter 5 – Unimax Class 12 Part 1

3. A and B are partners sharing profits and losses in ratio 3 : 2. They admit C for 3/10th Share which he acquires in the ratio of 2 : 1 from old partners. Calculate new profit sharing ratio.

The solution of Question 3 Chapter 5 – Unimax Class 12 Part 1

A’s new share = Old Share – Sacrifice
     =3/5-[2/3 X 3/10]
     =3/5_2/10 =6-2/10 =4/10
B’s new share =2/5_[1/3 X 3/10]
                   =2/5_1/10 =4-1/10 =3/10
New profit sharing ratio = A : B : C
                 =4/10: 3/10: 3/10
                 = 4 : 3 : 3 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

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