Question 4 Chapter 5 – Unimax Class 12 Part 1
Table of Contents
4. P and Q are partners sharing profits and losses in 2 : 1. R is admitted. R gets 1/4th share in the firm which he acquires 3 /20 from P and 2 /20 from Q. Calculate new profit sharing ratio of partners.
The solution of Question 4 Chapter 5 – Unimax Class 12 Part 1
A’s new share = Old Share – Sacrifice
=2/3_3/20
=40-9/60 =31/60
B’s new share =1/3_2/10
=20-6/60=14/60
New profit sharing ratio = P : Q : R
=31/60: 14/60: 1/4
= 31 : 14 : 15 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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